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Block & Leviton LLP Investigates Comverge, Inc.'s Board of Directors for Possible Breaches of Fiduciary Duty

Block & Leviton LLP Investigates Comverge, Inc.'s Board of Directors for Possible Breaches of Fiduciary Duty

PR Newswire

BOSTON, March 26, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of Comverge, Inc. ("Comverge" or the "Company") (NASDAQ: COMV) concerning its agreement to be taken private by Peak Merger Corp., an affiliate of H.I.G. Capital, LLC, for a mere $1.75 per share, or approximately $49 million

Block & Leviton's investigation seeks to determine, among other things, whether Comverge's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed transaction.  H.I.G. Capital's offer is a 7% discount to Comverge's share price on Friday, March 23, 2012, the last trading day prior to the announcement of the merger.  Thus, the Company's shareholders will actually lose value if the merger is consummated.  Indeed, as recently as March 16, 2012, an analyst had a price target for Comverge of $2.00 per share. 

If you have any information relevant to this investigation, or have questions about your legal rights, please contact Mark Alan Delaney of Block & Leviton LLP at (617) 398-5650 or email him at Mark@blockesq.com.

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.

This notice may constitute attorney advertising.

Contact:   

BLOCK & LEVITON LLP

 

Mark A. Delaney, Esq.

 

(617) 398-5650

 

mark@blockesq.com

 

 

 

Jason M. Leviton, Esq. 

 

(617) 398-5620  

 

jason@blockesq.com

SOURCE Block & Leviton LLP

 

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