SOURCE: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - Aug 1, 2012) - Levi & Korsinsky notifies investors of GenOn Energy, Inc. ("GenOn" or the "Company") (NYSE: GEN) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to NRG Energy, Inc (NYSE: NRG). A complaint was filed in Delaware state court.
Click here to learn more about the investigation: http://zlk.9nl.com/genon-energy-gen, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, GenOn shareholders will receive 0.1216 shares of NRG Energy, Inc. common stock for each GenOn share they own. The transaction has a total approximate value of $1.7 billion. The claims concern whether the GenOn Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether NRG Energy, Inc. is underpaying for GenOn shares, thus unlawfully harming GenOn stockholders. Based on recent closing prices for NRG Energy, Inc. stock, the deal represents a value of less than $2.20 per share while GenOn reported a book value of $6.59 per share for the most recent quarter.
If you own common stock in GenOn and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/genon-energy-gen.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.