INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Audience, Inc. Over the Proposed Sale of the Company to Knowles Corporation
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Audience, Inc. (“Audience” or the “Company”) (NasdaqGS: ADNC) for potential breaches of fiduciary duties in connection with the sale of the Company to Knowles Corporation (NYSE: KN) for approximately $85 million in a cash and stock deal. The Company’s stockholders will only receive $2.50 in cash and $2.50 in Knowles common stock for each share of Audience common stock they own for a total of $5.00 per share. At least one analyst has set a price target of $10.00 for Audience shares, and the Company’s stock has traded as high as $13.11 over the past year.
The investigation focuses on whether Audience’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Audience’s shareholders.
If you own common stock in Audience and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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