BALA CYNWYD, Pa., March 26, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Comverge, Inc. ("Comverge" or the "Company") (Nasdaq: COMV) relating to the proposed acquisition H.I.G. Capital ("H.I.G.").
Under the terms of the transaction, Comverge shareholders would receive only $1.75 in cash for each share of Comverge stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Comverge for not acting in the Company's shareholders' best interests in connection with the sale process to H.I.G. The transaction may undervalue Comverge as Comverge stock traded at $7.58 on January 5, 2011 and at $1.88 as recently as March 23, 2012. In addition, an analyst has set a price target on Comverge stock at $8.65 per share.
If you own shares of Comverge stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [email protected] visiting http://brodsky-smith.com/401-comv-comverge-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Law office of Brodsky & Smith, LLC