NEW YORK, May 18, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased shares of Multi-Fineline Electronix, Inc. (“Multi-Fineline”) (NASDAQ:MFLX) prior to the February 4, 2016 merger announcement. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California, Southern Division. To get more information go to:
zlk.9nl.com/multi-fineline-electronix
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
On February 4, 2016, Multi-Fineline announced it had entered a merger agreement wherein Suzhou Dongshan Precision Manufacturing Co., Ltd. would acquire all the outstanding shares of Multi-Fineline for $23.95 per share in cash. The complaint alleges that the CEO of Multi-Fineline, Reza Meshgin, and Roy Chee Keong Tan, Group CFO of United Engineers Limited, which holds more than 60% of Multi-Fineline’s outstanding shares, ran the sales process and negotiations in order to further their personal agendas. In particular, the complaint alleges that Meshgin steered the process towards a deal with Suzhou in order to maintain his position of CEO with the post-merger entity. As a result of the defendants’ actions, the complaint alleges, Multi-Fineline rejected superior bids and accepted Suzhou’s inferior proposal, severely undervaluing Multi-Fineline and harming investors.
If you suffered a loss in Multi-Fineline you have until July 18, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.