Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating the sale of Brightpoint,
Inc. (“Brightpoint” or “CELL”) (Nasdaq: CELL) to Ingram Micro for
shareholders. Under the proposed transaction, Brightpoint shareholders
will only receive $9.00 in cash for each share of Brightpoint/CELL stock
owned, well below at least one analyst’s estimated value of $12.00 per
share.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
Under the terms of the definitive merger agreement, Ingram Micro will
acquire all outstanding shares of Brightpoint in a cash transaction
valued at approximately $840 million.
The investigation centers on whether Brightpoint shareholders are
receiving adequate compensation for their shares in the buyout, whether
the transaction undervalues Brightpoint stock, and whether Brightpoint’s
board attempted to obtain the highest share price for all shareholders
prior to agreeing to the deal. Notably, according to Yahoo! Finance, at
least one analyst has estimated that the true inherent value of the
company is $12.00. “Due to the lack of a significant premium to the
shareholders and other factors, we believe that the transaction may
undervalue CELL stock. Our lawsuit will seek to obtain the highest share
price for all shareholders,” said shareholder rights attorney Willie
Briscoe.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
