NEW YORK, Aug. 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cobra Electronics Corporation ("Cobra Electronics" or the "Company") (NASDAQ: COBR) (ISIN: US1910421007) (CUSIP: 191042100) concerning the proposed acquisition of Cobra Electronics by Monomoy Capital Partners II, L.P.
Cobra Electronics shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The investigation concerns whether the Cobra Electronics directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed acquisition, Cobra Electronics shareholders will receive approximately $4.30 per share in cash for each outstanding share of Cobra Electronics common stock. However, the EBITDA and Revenue multiples are below the averages of comparable transactions, and the Company stock recently closed at $4.21.
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212-661-1100 ext. 237
SOURCE Pomerantz LLP