NEW YORK, Dec. 14, 2016 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating the Board of Directors of Inseego Corp. ("Inseego" or the "Company")(NASDAQ: INSG) for potential breaches of fiduciary duties in connection the 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.
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The investigation focuses on whether Inseego's Board of Directors breached their fiduciary duties to the Company's stockholders by 1) failing to adequately value the NWI shares 2) whether and by how much this proposed transaction undervalues the NWI shares and 3) failing to disclose all material information in connection with the upcoming Jan. 17, 2017 shareholder meeting.
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
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