Shareholders Foundation, Inc.

Takeover of Straight Path Communications Inc (NYSEMKT:STRP) Under Investigation for Investors

An investigation on behalf of investors of Straight Path Communications Inc (NYSEMKT:STRP) in connection with the proposed takeover was announced and NYSEMKT:STRP stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 04/19/2017 -- An investigation was announced for investors, who currently hold shares of Straight Path Communications Inc., concerning whether the takeover of Straight Path Communications Inc by AT&T for $95.63 per share is unfair.

Investors who purchased shares of Straight Path Communications Inc (NYSEMKT:STRP) and currently hold any of those NYSEMKT:STRP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain directors of Straight Path Communications Inc breached their fiduciary duties owed to NYSEMKT:STRP investors in connection with the proposed acquisition.

On April 10, 2017 Straight Path Communications Inc. (NYSEMKT:STRP) and AT&T (NYSE: T) announced the signing of a definitive merger agreement under which AT&T is to acquire Straight Path for $95.63 per share in an all-stock merger intended to qualify as a tax-free reorganization.

However, given that Verizon is rumored to offer a higher price for Straight Path Communications Inc (NYSEMKT:STRP) that sent NYSE:STRP shares in the open market to as high as $108.50 per share on April 18, 2017, the investigation concerns whether the offer is unfair to NYSEMKT:STRP stockholders. More specifically, the investigation concerns whether the Straight Path Communications Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Straight Path Communications Inc shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com