Insider Deal? Sonesta SNSTA Shareholder Lawsuit
Sonesta International Hotels Corporation is being Bought Out by Newton Mass SAC Trust for $174 Million
Do you own shares of Sonesta International Hotels Corporation (Nasdaq: SNSTA)?
Do you think that the proposed buyout price for your shares is too low? $31.00 per share unfair?
Kyros Law Boston Based Law firm is investigating potential claims against the board of directors of Sonesta International Hotels Corporation (Nasdaq: SNSTA) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Sonesta Acquisition Corporation (“SAC”), an affiliate of Hospitality Properties Trust in a transaction with an approximate value of $174 million. Under the announced agreement, SAC will acquire all of the outstanding shares of Sonesta for $31.00 per share in cash.
Our law firm's investigation concerns whether Sonesta’s board of directors adequately shopped the the hotel chain to obtain the best price possible for Sonesta’s shareholders before entering into the agreement with SAC. This appears to be an inside deal. The Sonnabend family which supports the merger controls about 55% of Sonesta’s outstanding shares.
If you are a shareholder of any amount of SNSTA please call Boston Attorney Bill Kyros at 1-800-934-2921 to discuss your rights.
Kyros Law is a Boston-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please our Kyros Law web site.
see also our Merger Lawsuit Page.
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