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TMCNet:  Newman Ferrara LLP Announces Investigation of Cobra Electronics Corporation

[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 rshimon@nfllp.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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