BALA CYNWYD, Pa., June 14, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Electro-Sensors, Inc. (Nasdaq - ELSE)
Under the terms of the Transaction, Mobile X will pay approximately $4.83 per share in a one-time cash dividend. Mobile X shareholders are expected to own approximately 76% of the combined company, Electro-Sensors shareholders approximately 11%, and new equity investors approximately 13%. The investigation concerns whether the Electro-Sensors Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether the deal is fair to Electro-Sensors shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/electro-sensors-inc-nasdaq-else/.
Rattler Midstream LP (Nasdaq - RTLR)
Under the terms of the agreement, Rattler will be acquired by Diamondback Energy, Inc. ("Diamondback") (Nasdaq - FANG). Diamondback will acquire all publicly held common units representing the limited partner interests in Rattler not already owned by Diamondback and its subsidiaries. The agreement provides for an all-stock transaction whereby each public unitholder of Rattler would receive 0.113 of a share of common stock in Diamondback in exchange for each Rattler common unit owned, an implied per-share merger consideration of approximately $15.08 based on Diamondback's May 13, 2022 closing price of $133.43. The investigation concerns whether the Rattler Board breached its fiduciary duties to unitholders by failing to conduct a fair process, and whether Diamondback is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/rattler-midstream-lp-nasdaq-rtlr/.
ManTech International Corporation (Nasdaq - MANT)
Under the terms of the agreement, ManTech will be acquired by funds managed by global investment firm Carlyle (Nasdaq - CG) in an all-cash transaction with a total enterprise value of approximately $4.2 billion. ManTech shareholders will receive $96.00 per share in cash for each share of ManTech they own. The investigation concerns whether the ManTech Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Carlyle is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/mantech-international-corporation-nasdaq-mant/.
Chardan NexTech Acquisition 2 Corp. (Nasdaq - CNTQ)
Under the terms of the agreement, Chardan, a special purpose acquisition company, will combine with Dragonfly Energy Corp. ("Dragonfly"), a leader in energy storage and producer of deep cycle lithium-ion storage batteries, and result in Dragonfly becoming a publicly-listed company. Under the terms of the agreement, Chardan shareholders will retain ownership of only 23% of the combined company. The investigation concerns whether the Chardan Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at visit https://www.brodskysmith.com/cases/chardan-nextech-acquisition-2-corp-nasdaq-cntq/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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