NEW YORK, May 31, 2016 /PRNewswire/ -- Harwood Feffer
LLP (www.hfesq.com) is investigating potential claims against the
board of directors of Electro Rent Corporation ("Electro Rent" or
the "Company") (NASDAQ: ELRC) concerning the proposed acquisition
of the Company by Platinum Equity ("Platinum") that would take the
Company private.
Under the terms of the offer, Platinum would acquire Electro
Rent in a transaction valued at approximately $323.4 million. Pursuant to the deal,
Electro Rent stockholders would receive $13.12 per share in cash. The proposed
consideration is below recent analyst estimates of the Company's
per share value and is also below recent trading prices for Company
stock.
Our investigation concerns whether the Electro Rent board of
directors is fulfilling its fiduciary duties, maximizing the value
of the Company, disclosing all material benefits and costs, and
obtaining full and fair consideration for Company stockholders.
If you own Electro Rent shares and wish to discuss this matter
with us, or have any questions concerning your rights and interests
with regard to this matter, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr., Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: povers@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the firm.
Attorney Advertising. The law firm responsible for this
advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results
do not guarantee or predict a similar outcome with respect to any
future matter.
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SOURCE Harwood Feffer LLP