Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Cogent, Inc. (“Cogent” or the “Company”) (NASDAQ:COGT) related to the Company’s agreement to be acquired by 3M Company (“3M”). The proposed all-cash transaction is valued at approximately $943 million.
Under the terms of the definitive agreement entered into by the parties, a subsidiary of 3M will commence a tender offer to purchase all outstanding shares of Cogent for $10.50 per share in cash. The agreement provides for the tender offer to commence within ten business days of August 30, 2010. Cogent’s founder and CEO, Ming Hsieh, and certain entities affiliated with him have agreed to tender their shares to the offer. The transaction is expected to close in the fourth quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Cogent’s board of directors.
If you own shares of Cogent, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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