A lawsuit was filed for investors in shares of MOCON, Inc. (NASDAQ:MOCO) in connection with the proposed takeover and NASDAQ:MOCO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/16/2017 -- The Shareholders Foundation announces that an investor, who currently holds shares of MOCON, Inc. (NASDAQ:MOCO), was announced concerning whether the takeover of MOCON, Inc. by AMETEK, Inc for $30.00 per share.
Investors who purchased shares of MOCON, Inc. (NASDAQ:MOCO) and currently hold any of those NASDAQ:MOCO shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MOCO stockholders by agreeing to sell MOCON, Inc cheaply via an unfair process to AMETEK, Inc.
On April 17, 2017, AMETEK, Inc (NYSE:AME) and MOCON, Inc. (NASDAQ:MOCO) announced that they have entered into a merger agreement under which AMETEK will acquire all of the outstanding shares of common stock of MOCON at a price of $30 per share in cash.
However, plaintiff claims that the proposed consideration NASDAQ:MOCO shareholders will receive is grossly inadequate and undervalues MOCON, Inc. MOCON, Inc. reported that its annual Total Revenue grew from $61.22 million in 2105 to $63.31 million in 2016 and that its Net Income rose from $2.97 million in 2015 to $5.00 million in 2016. In addition, the plaintiff alleges that the process is also unfair NASDAQ:MOCO stockholders.
On June 15, 2017, NASDAQ:MOCO shares closed at $29.90 per share.
Those who are current investors in MOCON, Inc. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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