| | The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches | | Levi & Korsinsky is investigating the Board of Directors of EnergyConnect Group, Inc. (OTC: ECNG) for possible breaches of fiduciary duty and other violations of state law | | Posted on : NetForce Press (06 Mar., 2011) | | | |
New York, NY, March 05, 2011 -- Levi & Korsinsky is investigating the Board of Directors of EnergyConnect Group, Inc. (“EnergyConnect” or the “Company”) (OTC: ECNG) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Johnson Controls, Inc. (NYSE: JCI). Under the terms of the agreement, Johnson Controls will purchase all outstanding shares of EnergyConnect stock for $0.2253 per share in cash for a total transaction value of approximately $32.3 million.
Click here to learn more about the investigation: http://www.zlk.com/energyconnect-group-ecng.html, or call: 877-363-5972.
The investigation concerns whether the EnergyConnect Board of Directors breached their fiduciary duties to EnergyConnect stockholders by failing to adequately shop the Company before entering into this transaction and whether Johnson Controls is underpaying for EnergyConnect shares, thus unlawfully harming EnergyConnect HP stockholders. In particular, one analyst set a price target of $2.50 per share for EnergyConnect stock.
If you own common stock in EnergyConnect and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/energyconnect-group-ecng.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St, 15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com |
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