A lawsuit was filed for investors in shares of Control4 Corporation (NASDAQ: CTRL) in connection with the proposed takeover and NASDAQ: CTRL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/22/2019 -- An investor, who currently holds shares of Control4 Corporation (NASDAQ: CTRL), filed a lawsuit against the takeover of Control4 Corp. is unfair to NASDAQ: CTRL stockholders.
Investors who purchased shares of Control4 Corporation (NASDAQ: CTRL) and currently hold any of those NASDAQ: CTRL shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Control4 Corporation breached their fiduciary duties owed to NASDAQ: CTRL investors in connection with the proposed acquisition.
Salt Lake City, UT based Control4 Corporation provides smart home and business solutions in the United States, Australia, Canada, China, Germany, the United Kingdom, and internationally. Control4 Corporation reported that its annual Total Revenue rose from $244.17 million in 2017 to $272.45 million in 2018 and that its Net Income increased from $15.45 million in 2017 to $43.84 million in 2018. On May 9, 2019, SnapAVand Control4 Corporation (NASDAQ: CTRL) announced that they have entered into a merger agreement whereby SnapAV will acquire Control4 in an all-cash transaction for $23.91 per share in cash, representing an aggregate value of approximately $680 million.
However, the plaintiff claims that the proposed consideration NASDAQ: CTRL shareholders will receive is grossly inadequate and undervalues Control4 Corporation. Indeed, at least one analyst has set the high target price for NASDAQ: CTRL shares at $32.00 per share and NASDAQ: CTRL shares traded in the open market as recently as September 2018 as high as $37.62 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ: CTRL stockholders.
Those who are current investors in Control4 Corporation (NASDAQ: CTRL) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
For more information on this press release visit:
Media Relations Contact
Email: Click to Email Michael Daniels