BALA CYNWYD, Pa., June 20, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Network Engines, Inc. ("Network Engines" or the "Company") (Nasdaq- NEI) relating to the proposed acquisition by Unicom Systems, Inc. ("Unicom").
Under the terms of the transaction, Network Engines shareholders will receive only $1.45 in cash for each share of Network Engines stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Network Engines for not acting in the Company's shareholders' best interests in connection with the sale process to Unicom. The transaction may undervalue Network Engines as Network Engines stock traded at $2.15 a share on April 27, 2011 and $1.50 a share as recently as February 24, 2012. In addition, an analyst has set a price target on Network Engines stock at $2.00 a share.
If you own shares of Network Engines 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/440-nei-network-engines-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC