BALA CYNWYD, Pa., Nov. 23, 2016 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of American DG Energy, Inc. ("American DG Energy" or "the Company") (NYSE MKT- ADGE-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Tecogen, Inc. ("Tecogen").
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Under the terms of the transaction, American DG Energy shareholders will receive only 0.092 of a share of Tecogen stock for each share of American DG Energy stock they own. The transaction values American DG Energy at only approximately $0.37 per share. The investigation concerns whether the Board of American DG Energy breached their fiduciary duties to shareholders and whether Tecogen is underpaying for the Company. The transaction may undervalue the Company and would result in no real gain for many American DG Energy shareholders. For example, American Energy stock traded at $0.34 per share on September 13, 2016
If you own shares of American DG Energy stock and wish to discuss the legal ramifications of the investigation, 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 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/american-dg-energy-inc-nyse-mkt-adge/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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SOURCE Brodsky & Smith, LLC