An investigation on behalf of investors of Brightpoint, Inc. (NASDAQ:CELL) in connection with the takeover was announced and NASDAQ:CELL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/09/2012 -- An investigation on behalf of investors in Brightpoint, Inc. (NASDAQ:CELL) shares was announced concerning whether the offer to acquire Brightpoint, Inc. and the takeover process are unfair to investors in NASDAQ:CELL shares.
Investors who purchased shares of Brightpoint, Inc. (NASDAQ:CELL) prior to July 2, 2012, and currently hold any of those NASDAQ:CELL shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Brightpoint, Inc. breached their fiduciary duties owed NASDAQ:CELL investors in connection with the proposed acquisition.
On July 2, 2012, Ingram Micro Inc. (NYSE:IM) and Brightpoint, Inc. (Nasdaq:CELL), announced that they have entered into an agreement under which, subject to customary closing conditions, Ingram Micro will acquire all of the outstanding shares of BrightPoint common stock for $9.00 per share in cash.
However, shares of Brightpoint, Inc. (NASDAQ:CELL) traded in February at $11.99 per share, thus well above the current offer. In addition, at least one analyst has set the High Target Price for NASDAQ:CELL shares at $12.00 per share.
Furthermore, Brightpoint, Inc. (NASDAQ:CELL) has performed well in recent years. Its annual Revenue rose from $4.33billion in 2008 to $5.24billion in 2011 and its Net Loss of $342.11million in 2008 turned into a Net Income of $48.83million in 2011.
Therefore the investigation for NASDAQ:CELL investors concerns whether the proposed transaction is unfair to Brightpoint stockholders. Specifically, the investigation focuses on whether the Brightpoint Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Brightpoint, Inc. (NASDAQ:CELL) and purchased their Brightpoint, Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego