Ryan & Maniskas, LLP Announces Investigation of Sonesta International Hotels Corp.
November 09 2011 - 10:57AM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/snsta) is
investigating potential claims against the board of directors of
Sonesta International Hotels Corp. ("Sonesta" or the "Company")
(NASDAQ: SNSTA) concerning possible breaches of fiduciary duty and
other violations of law related to the Company’s efforts to sell
Sonesta to Sonesta Acquisition Corporation, an affiliate of
Hospitality Properties Trust in a transaction valued at $174
million.
Our investigation concerns possible breaches of fiduciary duty
and other violations of law related to the approval of the
transaction by Company’s board of directors; in particular, whether
the Company undertook a fair process to obtain fair consideration
for all shareholders of Sonesta. For more information regarding our
investigation, please contact Ryan & Maniskas, LLP (Richard A.
Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/snsta.
Under the terms of the definitive agreement, Sonesta
shareholders will receive $31.00 in cash for each share of Sonesta
common stock they own.
If you own shares of Sonesta 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
Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign
up online, visit: www.rmclasslaw.com/cases/snsta. You may also
email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more
information about class action cases in general, please visit our
website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, 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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