|[September 01, 2014]
SHAREHOLDER ALERT: Brower Piven Announces the Investigation of Cobra Electronics Corporation in Connection with the Proposed Sale of the Company to Monomoy Capital Partners
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Cobra Electronics Corporation ("Cobra") (Nasdaq: COBR)
concerning the proposed sale of Cobra to Monomoy Capital Partners
Under the terms of the proposed transaction, Monomoy, a private equity
firm, will commence a tender offer within ten business days to acquire
all outstanding shares of Cobra common stock for $4.30 per share. 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 tock of $4.35 per share. The proposed transaction
is expected to close in the fourth quarter of 2014.
The firm's investigation seeks to determine, among other things, whether
the Company's Board of Directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into the
transaction, and whether Monomoy is underpaying for Cobra shares.
If you currently own common stock of Cobra and would like to learn more
about the investigation being conducted by Brower Piven, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at firstname.lastname@example.org
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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