mail@shareholdersfoundation.com
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Sep 02, 2010 -
An investor of Cogent, Inc. (NASDAQ:COGT)
filed a lawsuit in State Court against members of the board of directors of Cogent over alleged breaches of fiduciary duty arising out of the attempt to sell Cogent too cheaply to 3M.
If you are a current investor in Cogent, Inc. (NASDAQ:COGT)
, and/or have information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duty in connection with the attempt to sell Cogent to 3M at an unfair price through an unfair process. On Monday, August 30, 2010, 3M and Cogent announced that 3M will acquire Cogent pursuant to an all cash offer. Under the terms of the agreement, Cogent stockholders will receive cash of $10.50 in exchange for each share of Cogent common stock. The proposed transaction has an aggregate value of approximately $943 million, or approximately $430 million net of cash acquired.
But shares of Cogent, Inc. (NASDAQ: COGT) jumped in response to the takeover news above the offer to over $11 per share and traded as early as May 2010 COGT shares at the current offer price of $10.50 per share, on April 26, 2010 above the offer at $10.61 per share, and in January even at $11.29 per share. During 2008 COGT shares reached almost $14 per share. During 2007 COGT shares traded over $15 per share, and during 2004 and 2005 above $30 per share. At least one analyst set a price target at $16.00 per share.
Those who are current investors in Cogent, Inc. (Public, NASDAQ:COGT)
, and/or have information relating the investigation, have certain options and should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
