Law Firm Brower Piven Announces Investigation In Connection With Comverge, Inc. Buyout

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Comverge, Inc. (Nasdaq: COMV) (“Comverge”) and other violations of state law by the board of directors of Comverge relating to the proposed buyout of the company by Peak Merger Corp. (“Peak”), an affiliate of H.I.G. Capital, LLC, a private investment firm. The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.

On March 26, 2012, Comverge announced that it had entered into an agreement providing for Peak to acquire Comverge for approximately $49 million. Under the terms of the buyout transaction, Comverge shareholders will receive $1.75 for each share of Comverge common stock held. However, according to Yahoo! Finance, the median analyst price target is $2.50 per share, with at least one analyst setting a high target of $8.65.

If you currently own shares of Comverge and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.

Copyright Business Wire 2010

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