Shareholder Update: Investigation of Acquisition of Cogent by Tripp Levy PLLC (COGT)

Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of Cogent, Inc. (NASDAQ: COGT). On August 30, 2010, Cogent announced that it had entered into an agreement to be acquired by 3M Co. (NYSE: MMM). Under the terms of the agreement, Cogent shareholders will receive $10.50 in cash for each Cogent share of common stock they own.

The investigation concerns, among other things, whether the consideration to be paid to Cogent shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Cogent. Indeed, analysts have projected that the company’s inherent value is at least $16 per share. The investigation further concerns whether the directors of Cogent may have breached their fiduciary duties by not acting in Cogent shareholders' best interests in connection with the sale process of Cogent.