A lawsuit was filed for investors in shares of Molex Incorporated (NASDAQ:MOLX) in effort to halt the proposed takeover of Molex and NASDAQ:MOLX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2013 -- An investor, who currently hold shares of Molex Incorporated (NASDAQ:MOLX), filed a lawsuit in effort to halt the proposed takeover of Molex Incorporated to Koch Industries, Inc for $38.50 per share.
Investors who purchased shares of the Molex Incorporated (NASDAQ:MOLX) and currently hold any of those NASDAQ:MOLX shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MOLX stockholders arising out of the attempt to sell Molex Incorporated too cheaply via an unfair process to
On September 9, 2013 Molex Incorporated announced that it has entered into an agreement to be acquired by Koch Industries, Inc. Under the terms of the agreement, Koch Industries will acquire all of Molex's outstanding shares, including the Common Stock (MOLX), the Class A Common Stock (MOLXA) and the Class B Common Stock, for $38.50 per share in cash, for a total equity value of approximately $7.2 billion.
However, the plaintiff claims that the offer is too low and undervalues Molex Inc. Indeed, shares of Molex Incorporated grew over the past recent years at a significant growth rate. In fact NASDAQ:MOLX shares grew from $10.05 per share in March 2009 to as high as $30.85 per share in August 2013.
Furthermore, the plaintiff alleges that the process if unfair to investors in NASDAQ:MOLX shares as well. Indeed, certain members of the Krehbiel Family and certain executive officers of Molex, owning in the aggregate voting stock representing approximately 32% of the Common Stock and 94% of the Class B Common Stock, have already entered into voting agreements with Koch Industries by which they have agreed to vote their stock in support of the transaction.
On Oct. 7, 2013, NASDAQ:MOLX shares closed at $38.44 per share.
Those who are current investors in Molex Incorporated (NASDAQ:MOLX) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego