SHAREHOLDER ALERT: Brodsky & Smith, LLC Files Class Action in Connection with the Proposed Sale of TECO Energy, Inc.

BALA CYNWYD, Pa.--(BUSINESS WIRE)--

Law office of Brodsky & Smith, LLC today announced that a class action has been commenced on behalf of all shareholders of TECO Energy, Inc ("TECO Energy" or the "Company") TE in the United States District Court for the Middle District of Florida relating to the proposed acquisition by Emera, Inc. ("Emera") (the "Proposed Transaction").

If you are a TECO Energy shareholder and wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jason Brodsky or Evan Smith of Brodsky & Smith, LLC at (877) LEGAL-90, by visiting http://brodsky-smith.com/979-te-teco-energy-inc.html, or via e-mail at investorrelations@brodsky-smith.com. There is no cost or obligation to you. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

TECO Energy, a Florida corporation, is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. The complaint alleges that TECO Energy and its Board breached their fiduciary duties by agreeing to the proposed merger which will result in grossly inadequate compensation for TECO Energy's shareholders and Emera aided and abetted such violation, in connection with their attempt to consummate the Proposed Transaction pursuant to an unfair process and for an unfair price. The Complaint also brings claims against the Defendants for their violations of Section 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 14a-9 promulgated thereunder ("Rule 14a-9"). In addition, the complaint alleges that TECO Energy and the Board disseminated a false and misleading Schedule 14A preliminary Proxy filed with the Securities and Exchange Commission (‘SEC") on October 6, 2015 and a Definitive Proxy on October 22, 2015 (together, the "Proxy") promulgated thereunder in connection with the Proposed Transaction.

On September 4, 2015, TECO Energy and Emera entered into a definitive agreement (the "Merger Agreement") whereby Emera would acquire all outstanding shares of TECO Energy. The complaint alleges that the Proxy contains a number of false and misleading statements that are material to shareholders who are expected to rely upon the Proxy to determine whether to approve the Proposed Transaction. The Proxy omits a number of material facts necessary to make statements made therein not false and misleading, including the events leading to the Merger Agreement, the analyses conducted by the Board's financial advisor, and TECO Energy's prospective financial information. In addition, the complaint alleges that the Defendants, in breach of their fiduciary duties to TECO Energy shareholders, agreed to preclusive deal protection devices.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.