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 email@example.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.