EnergyConnect Group, Inc. Merger Litigation (OTC: ECNG.ob)
Law Office of Brodsky & Smith, LLC Announces Investigation of EnergyConnect Group, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of EnergyConnect Group, Inc. (“EnergyConnect” or the “Company”) (OTC – ECNG.ob - News) relating to the proposed acquisition by Johnson Controls, Inc. (“Johnson”).
Under the terms of the transaction, EnergyConnect shareholders would receive $0.2253 in cash for each share of common stock of they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of EnergyConnect by not acting in EnergyConnect shareholders' best interests in connection with the sale process to Johnson. The transaction may undervalue EnergyConnect as the stock traded at 0.25 per share on August 10, 2010 and an analyst has set a price target of $2.50 per share on EnergyConnect stock.
If you own shares of EnergyConnect stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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