NEW YORK, April 28, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of Constellation Energy Group, Inc. ("Constellation" or the "Company") (NYSE:CEG) concerning the proposed acquisition of Constellation by Exelon Corporation ("Exelon") in a transaction valued at $7.9 billion.
The investigation concerns whether the Board of Directors breached their fiduciary duties by failing to shop the Company before entering into this transaction, and whether Exelon is paying a fair and adequate stock price to Constellation shareholders. Under the terms of the agreement, Constellation shareholders will receive 0.930 shares of Exelon common stock in exchange for each share of Constellation common stock. Based on Exelon's closing share price on April 27, 2011, Constellation shareholders would receive a value of $38.59 per share.
Constellation shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at firstname.lastname@example.org or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at email@example.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP 888-476-6529 (ext. 237) 212-661-1100 (ext. 237) firstname.lastname@example.org