NEW YORK, Feb. 14, 2011 (GLOBE NEWSWIRE) -- Harwood Feffer LLP ( www.hfesq.com ) is investigating potential claims against the board of directors of Hughes Communications, Inc. (Nasdaq:HUGH) ("Hughes" or the "Company") concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell Hughes to EchoStar Corporation (Nasdaq:SATS) in a transaction valued at approximately $2 billion.
Under the terms of the definitive agreement, Hughes shareholders will receive $60.70 per share which represents a discount to recent trading value of Hughes. Hughes has demonstrated strong financial performance and stock analysts have opined that that a target price of $65.00 per share is appropriate. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Hughes.
If you own shares of Hughes and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Matthew Houston toll free at (877) 935-7400 or to sign up online, visit www.hfesq.com. You may also email Mr. Houston at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.hfesq.com.
Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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CONTACT: Harwood Feffer LLP Matthew Houston - (877) 935-7400 email@example.com firstname.lastname@example.org www.hfesq.com