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SNSTA Sonesta International Hotels Corp. (MM)

30.91
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sonesta International Hotels Corp. (MM) NASDAQ:SNSTA NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 30.91 0 01:00:00

Law Office of Brodsky & Smith, LLC Announces Investigation of Sonesta International Hotels Corporation

05/11/2011 3:59am

Business Wire


Sonesta (NASDAQ:SNSTA)
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Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sonesta International Hotels Corporation (“Sonesta” or the “Company”) (Nasdaq: SNSTA) relating to the proposed acquisition by Hospitality Properties Trust (“HPT”).

Under the terms of the transaction Sonesta shareholders would receive $31.00 in cash for each share of Sonesta stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sonesta for not acting in the Sonesta shareholders' best interests in connection with the sale process to HPT. The transaction may undervalue Sonesta as a result of failing to adequately shop the Company. Litigation may be the only way to increase shareholder compensation as shareholders owning approximately 55% of Sonesta’s outstanding shares have already agreed to tender their shares.

If you own shares of Sonesta stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, visiting http://brodsky-smith.com/353-snsta-sonesta-international-hotels-corporation.html, or by calling toll free 877-LEGAL-90.

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