Levi & Korsinsky is investigating the Board of Directors of Network Engines, Inc. (“NEI” or the “Company”) (Nasdaq: NEI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to UNICOM Systems, Inc.
Click here to learn how to join the action: http://zlk.9nl.com/network-engines-nei/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, NEI shareholders will receive $1.45 per share of NEI stock they own. The transaction has an approximate total value of $63.2 million. Shareholders representing approximately 14.9% of the Company’s outstanding shares have already agreed to tender their shares. The investigation concerns whether the NEI Board of Directors breached their fiduciary duties to NEI stockholders by failing to adequately shop the Company before entering into this transaction and whether UNICOM Systems, Inc. is underpaying for NEI shares, thus unlawfully harming NEI stockholders. In particular, NEI stock traded as high as $1.58 per share as recently as February 21, 2012. Also, at least one analyst has set a price target of $2.00 per NEI share, or about $.50 higher than the offer price.
If you own common stock in NEI and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/network-engines-nei/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Toll Free: 877-363-5972
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