Faruqi & Faruqi, LLP Announces Investigation of Comverge, Inc. (COMV)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Comverge, Inc. (“Comverge” or the “Company”) (NASDAQ: COMV) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to the private equity firm H.I.G. Capital in a transaction valued at about $49 million. Under the terms of the proposed transaction, Comverge shareholders will receive only $1.75 in cash for each share of Comverge common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $8.65 for Comverge.
Whether Comverge’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Comverge’s shares and by how much this proposed transaction undervalues the Company to the detriment of Comeverge’s shareholders are the key focus of this investigation.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.