Network Engines Investor Alert: The Briscoe Law Firm & Powers Taylor, LLP Investigate Network Engines, Inc. Sale to Unicom Sy...
21 Giugno 2012 - 7:26PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Network Engines, Inc. (“Network
Engines” or “NEI”) (NASDAQ: NEI) to Unicom Systems, Inc. for
shareholders. Under the proposed transaction, Network Engines
shareholders will receive only $1.45 in cash for each share of
Network Engines stock owned.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement involves a transaction with a
total equity value of approximately $63.2 million.
The investigation centers on whether Network Engines
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Network Engines
stock, and whether Network Engines’ board attempted to obtain the
highest share price for all shareholders prior to agreeing to the
deal. At least one analyst with Yahoo! Finance has estimated that
the true inherent value of the stock is as high as $2.00 per share,
well above the proposed price. According to shareholder rights
attorney Willie Briscoe, “Because of the lack of a significant
premium to the shareholders, and other factors, we believe that the
transaction may undervalue Network Engines stock. Our lawsuit will
seek to obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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