NEW YORK, June 13, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Electro-Sensors, Inc. (“Electro-Sensors”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Mobile X.
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On June 13, 2022, Electro-Sensors announced that it had entered into an agreement to be acquired by Mobile X in a cash and equity deal. Pursuant to the merger agreement, Mobile X will pay approximately $4.83 per share in a one-time cash dividend. In addition, current Electro-Sensors shareholders will retain 11% ownership of the merged company. The deal is scheduled to close in the third quarter of 2022.
Bragar Eagel & Squire is concerned that Electro-Sensors’ board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Electro-Sensors’s stockholders.
If you own shares of Electro-Sensors and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato by email at mergers@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
mergers@bespc.com
www.bespc.com
