Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of SkyTerra Communications, Inc.
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BALA CYNWYD, Pa.--(BUSINESS WIRE)-- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of SkyTerra Communications, Inc. ("SkyTerra" or the "Company") (OTCBB: SKYT) related to the announcement of a proposed transaction to take the Company private by the Company's largest shareholder, Harbinger Capital Partners ("Harbinger").
Under the terms of the transaction, SkyTerra's Board of Directors approved a sale that would provide for a cash payment of approximately $5.00 for every share of SkyTerra owned. The investigation focuses on whether the SkyTerra Board breached its fiduciary duties in its deliberation regarding the proposed acquisition given that Harbinger holds 48% of the Company's voting common stock.
If you are a SkyTerra shareholder and wish to discuss the legal ramifications of the Board's actions, 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 Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.
Source: Brodsky & Smith, LLC
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