Levi & Korsinsky is investigating the Board of Directors of Comverge, Inc. (“Comverge” or the “Company”) (Nasdaq: COMV) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to H.I.G. Capital. Under the terms of the agreement, Comverge shareholders will receive $1.75 per share of Comverge stock they own. The transaction has a total approximate value of $49 million.
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The investigation concerns whether the Comverge Board of Directors breached their fiduciary duties to Comverge stockholders by failing to adequately shop the Company before entering into this transaction and whether H.I.G. Capital is underpaying for Comverge shares, thus unlawfully harming Comverge stockholders. In particular, Comverge shares closed as high as $1.88 per share as recently as March 23, 2012 and the mean price target for Comverge stock set by six analysts is $3.40 per share.
If you own common stock in Comverge and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.