SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of PNM Resources (NYSE – PNM)

BALA CYNWYD – October 21, 2020 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of PNM Resources (“PNM” or the “Company”) (NYSE – PNM) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by AVANGRID (NYSE – AGR),. Under the terms of the agreement, PNM stockholders will receive only $50.30 for each share of PNM common stock they own.

The investigation concerns whether the PNM Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether AVANGRID is paying too little for the Company. For example, the deal consideration is well below the 52-week high of $56.14 for PNM shares and at least one wall street analyst has set a target price of $55.00 for PNM shares.

If you own shares of PNM stock and wish to discuss the legal ramifications of the investigation, or have any questions, 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 805, Bala Cynwyd, PA 19004, or call toll free 877-534-2590.