The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Network Engines, Inc. (NASDAQ: NEI) (“NEI”) and other violations of state law by the board of directors of NEI relating to the proposed acquisition of the company by UNICOM Systems, Inc. (“UNICOM”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On June 19, 2012, NEI announced that it had entered into a definitive merger agreement providing for UNICOM to acquire NEI for approximately $63.2 million. Under the terms of the merger agreement, NEI shareholders will receive $1.45 for each share of NEI common stock held. However, according to Yahoo! Finance, analysts have set a mean price target of $2.00 per share, and NEI shares have traded above the deal price as recently as April 3, 2012.
If you currently own shares of NEI and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at email@example.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Charles J. Piven, 410-415-6616
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