Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Micronetics, Inc. (“Micronetics” or the “Company”) (NASDAQ: NOIZ) (ISIN: US5951251058) concerning the proposed acquisition of Micronetics by Mercury Computer Systems, Inc. in a cash transaction valued at approximately $75.4 million. The investigation concerns whether the Micronetics directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Micronetics shareholders would receive $14.80 in cash per share of Micronetics common stock. However, the price to EBIT and Net Income multiples trail comparable transactions. Micronetics shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 314. The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Shares of Micronetics (Nasdaq:NOIZ) have taken a tremendous swing upward. The stock is trading at $7.33 as of 9:35 a.m. ET, 25.3% above Thursday's closing price of $5.85. Volume is at 40,334, 4.1 times the daily average of 9,800.