An investigation on behalf of investors of Control4 Corporation (NASDAQ: CTRL) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 05/14/2019 -- The takeover of Control4 Corporation is under investigation on behalf of investors, who currently hold shares of Control4 Corporation (NASDAQ: CTRL), was announced concerning whether the takeover of Control4 Corp. is unfair to NASDAQ: CTRL stockholders.
Investors who purchased shares of Control4 Corporation (NASDAQ: CTRL) and currently hold any of those NASDAQ: CTRL shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Control4 Corporation breached their fiduciary duties owed to NASDAQ: CTRL investors in connection with the proposed acquisition.
Salt Lake City, UT based Control4 Corporation provides smart home and business solutions in the United States, Australia, Canada, China, Germany, the United Kingdom, and internationally. Control4 Corporation reported that its annual Total Revenue rose from $244.17 million in 2017 to $272.45 million in 2018 and that its Net Income increased from $15.45 million in 2017 to $43.84 million in 2018. On May 9, 2019, SnapAVand Control4 Corporation (NASDAQ: CTRL) announced that they have entered into a merger agreement whereby SnapAV will acquire Control4 in an all-cash transaction for $23.91 per share in cash, representing an aggregate value of approximately $680 million.
However, given that at least one analyst has set the high target price for NASDAQ: CTRL shares at $32.00 per share and given that NASDAQ: CTRL shares traded in the open market as recently as September 2018 as high as $37.62 per share , the investigation concerns whether the offer is unfair to NASDAQ: CTRL stockholders. More specifically, the investigation concerns whether the Control4 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 Control4 Corporation (NASDAQ: CTRL) shares have certain options and should contact the Shareholders Foundation.
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