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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Connecticut Water Service, Inc. (NASDAQ: CTWS) to SJW Group (NYSE: SJW). Under the terms of the transaction, Connecticut Water shareholders will receive 1.1375 shares of SJW Group for each share of Connecticut Water they own; this represents a value of approximately $61.86 per share.
The investigation concerns whether the Board of Connecticut Water breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether SJW Group is underpaying for Connecticut Water shares, thus unlawfully harming Connecticut Water shareholders.
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