A lawsuit was filed by an investor in shares of Pulse Electronics Corp (OTCMKTS:PULS) in effort to stop the proposed takeover and OTCMKTS:PULS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/13/2015 -- An investor, who currently holds shares of Pulse Electronics Corp (OTCMKTS:PULS), filed a lawsuit in effort to stop the proposed takeover of Pulse Electronics Corp by Oaktree Capital Management, L.P at $1.50 per share.
Investors who purchased shares of Pulse Electronics Corp (OTCMKTS:PULS) and currently hold any of those OTCMKTS:PULS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to OTCMKTS:PULS stockholders by agreeing to sell Pulse Electronics Corp. too cheaply via an unfair process.
On March 2, 2015 -- Pulse Electronics Corp (OTCMKTS:PULS) announced that it has entered into an agreement with certain affiliates of investment funds managed by Oaktree Capital Management, L.P. (such affiliates, "Oaktree"), under which Oaktree will invest a total of $17.0 million in Pulse and subsequently acquire 100% of the outstanding shares of Pulse Electronics Corp. Pulse Electronics Corp (OTCMKTS:PULS) shareholders will be entitled to receive $1.50 in cash for each share of common stock they hold immediately prior to the closing of the merger.
However, the plaintiff claims that the proposed consideration OTCMKTS:PULS shareholders will receive is grossly inadequate and undervalues Pulse Electronics Corp. Indeed, shares of Pulse Electronics Corp (OTCMKTS:PULS) traded as recently as March 2014 as high as $4.10 per share and reached after the takeover announcement as high as $1.69 per share on April 6, 2015. In addition, the plaintiff claims that the process is also unfair to OTCMKTS:PULS stockholders.
On April 10, 2015, shares of Pulse Electronics Corp (OTCMKTS:PULS) closed at $1.50 per share.
Those who are current investors in Pulse Electronics Corp (OTCMKTS:PULS) 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