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TMCNet:  SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Cobra Electronics Corporation In Connection With The Proposed Sale Of The Company To Monomoy Capital Partners

[September 04, 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 ("Monomoy").

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 comon stock 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 hoffman@browerpiven.com 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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