NEW YORK, June 26, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of EnerNOC, Inc. ("ENOC" or the "Company") (NASDAQ: ENOC) in connection with the proposed acquisition of the Company by the Enel Group ("Enel"). Under the terms of the acquisition agreement, the Company's shareholders will receive $7.67 in cash for each ENOC share they own.
WeissLaw is investigating whether ENOC's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $11.00, or 30% above the offer price. Additionally, in a recent earnings call, Timothy Healy, the Company's CEO, announced that ENOC's "first quarter financial results ha[d] a nice pace for 2017." He highlighted that the Company had seen adjusted EBITDA improve by $30 million, or 47%, year-over-year while reducing operating expenses by 36% and delivering similar revenues after accounting for business lines divested in 2016.
Given these facts, WeissLaw is investigating whether ENOC's Board acted in the best interests of ENOC's public shareholders to maximize shareholder value prior to entering into the agreement. If you own ENOC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/enernoc-inc/
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SOURCE WeissLaw LLP