The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Micronetics, Inc. (NASDAQ: NOIZ) (“Micronetics”) and other violations of state law by the board of directors of Micronetics relating to the proposed acquisition of the company by Mercury Computer Systems, Inc. (“Mercury”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value. On June 10, 2012, Micronetics announced that it had entered into a definitive merger agreement providing for Mercury to acquire Micronetics for $75.4 million. Under the terms of the merger agreement, Micronetics shareholders will receive $14.80 for each share of Micronetics common stock held. Shareholders of Micronetics holding shares representing approximately 20.0% of the shares outstanding have already agreed to vote in favor of the transaction. If you currently own shares of Micronetics 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 firstname.lastname@example.org, 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.
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.