An investigation on behalf of investors of Peerless Systems Corp. (NASDAQ:PRLS) in connection with the proposed takeover was announced and NASDAQ:PRLS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/07/2015 -- An investigation on behalf of investors, who currently hold shares of Peerless Systems Corp. (NASDAQ:PRLS), was announced concerning whether the takeover of Peerless Systems Corp. by Mobius Acquisition, LLC for $7.00 per share is unfair to NASDAQ:PRLS stockholders.
Investors who purchased shares of Peerless Systems Corp. (NASDAQ:PRLS) and currently hold any of those NASDAQ:PRLS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Peerless Systems Corp. breached their fiduciary duties owed to NASDAQ:PRLS investors in connection with the proposed acquisition.
On December 22, 2014, Peerless Systems Corp. (NASDAQ:PRLS) reported that it has entered into a definitive merger agreement to be acquired by Mobius Acquisition, LLC for $7.00 per share in cash, pursuant to a cash tender offer and second step merger.
However, the investigation concerns whether the offer is unfair to NASDAQ:PRLS stockholders. More specifically, the investigation concerns whether the Peerless Systems 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.
Peerless Systems Corp. (NASDAQ:PRLS) reported that its Total Revenue rose from $2.49 million for the 12 months period that ended on January 31, 2013 to $3.60 million for the 12 months period that ended on January 31, 2014.
Shares of Peerless Systems Corp. (NASDAQ:PRLS) grew from $2.30 per share in late 2009 to as high as $5.23 per share in November 2014.
On January 5, 2015, NASDAQ:PRLS shares closed at $6.85 per share.
Those who are current investors in Peerless Systems Corp. (NASDAQ:PRLS) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com