NEW YORK, Jan. 10, 2017 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Southern District of California, case no. 3:16-cv-03068-JAH-HLS, on behalf of shareholders of Inseego Corp. ("Inseego" or the "Company")(NASDQ: INSG) who held Inseego securities and have been harmed by Inseego's and its board of directors' (the "Board") alleged violations of Sections 14(a), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale sale to T.C.L. Industries Holdings (H.K.) Limited ("Purchaser Parent") and Jade Ocean Global Limited ("Purchaser," and together with Purchaser Parent, "Purchasers"), of all the shares Inseego owns in Novatel Wireless, Inc. ("NWI").
Under the terms of the agreement, Purchasers will acquire all of the issued and outstanding shares of common stock of NWI from Inseego for $50.0 million. The complaint alleges that this offer is inadequate and alleges that the definitive proxy statement (the "Proxy") provides materially incomplete and misleading information about the Company's financials and the transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Click here for more information: www.monteverdelaw.com/investigations. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.
If you own common stock in Inseego and wish to obtain additional information and protect your investments free of charge, please visit us at www.monteverdelaw.com/investigations or Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (212) 971-1341.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. 59th Floor
New York, NY 10118
United States of America
Tel: (212) 971-1341
Attorney Advertising. (C) 2017 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.
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SOURCE Monteverde & Associates PC