NEW YORK, Dec. 6, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Central District of California, Case No. 5:18-cv-02537JGB-SHK, on behalf of public common shareholders of Black Box Corporation ("Black Box" or the "Company") BBOX who hold Black Box securities as of the close of the tender offer on December 19, 2018 (the "Class Period"), and have been harmed by Black Box and its board of directors' (the "Board") alleged violations of Sections 14(e) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to AGC Networks Ltd. ( the "Proposed Transaction").
Under the terms of the Merger Agreement, Black Box shareholders will only receive $1.08 in cash for each share of Black Box common stock they own (the "Offer Price"). The complaint alleges that the Merger Consideration is inadequate and that the Schedule 14D-9 Solicitation/Recommendation Statement regarding the Proposed Transaction (the "Recommendation Statement") provides shareholders with materially incomplete and misleading information about the Proposed Transaction, in violation of Sections 14(e) and 20(a) of the Exchange Act. In particular, the Recommendation Statement alleges materially incomplete and misleading information concerning: (i) financial projections for the Company; (ii) the valuation analyses performed by the Company's financial advisor, Raymond James & Associates, Inc., in support of its fairness opinion; and (iii) the potential conflict of interest Raymond James faced as a result of its prior dealings with Black Box. The Tender Offer is scheduled to expire at midnight on December 19, 2018.
If you wish to serve as lead plaintiff, you must move the Court no later than February 4, 2019. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: https://www.monteverdelaw.com/case/black-box-corporation.It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating mergers & acquisitions and securities class actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017, and 2018, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 and 2018 Top Rated Lawyer.
Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341
Attorney Advertising. (C) 2018 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
SOURCE Monteverde & Associates PC
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
