|[August 28, 2014]
Newman Ferrara LLP Announces Investigation of Cobra Electronics Corporation
NEW YORK --(Business Wire)--
Newman Ferrara LLP is investigating potential claims against the Board
of Directors of Cobra Electronics Corporation ("Cobra") (Nasdaq:COBR)
concerning the proposed sale of Cobra to private equity firm Monomoy
Capital Partners ("Monomoy").
Under the terms of the proposed transaction, Monomoy will commence a
tender offer within ten business days to acquire all outstanding shares
of Cobra common stock for only $4.30 per share. However, the proposed
offer price values Cobra at well below Cobra's June book value of $5.83
per share. The offer price is also below the 52-week trading high of
Cobra common stock of $4.35 per share. The proposedtransaction is
expected to close in the fourth quarter of 2014.
Newman Ferrara LLP's investigation concerns whether Cobra's Board of
Directors has breached its fiduciary duties to act in the best interests
of Cobra's stockholders and to take all necessary steps to ensure that
Cobra's stockholders receive the maximum value readily available for
their shares of Cobra common stock.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at email@example.com
to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City
with attorneys specializing in complex commercial and multi-party
litigation, securities fraud and shareholder litigation, consumer
protection, civil rights, and real estate. For more information, please
visit the firm website at www.nfllp.com.
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