Humor & Quirks
SAN DIEGO--([ BUSINESS WIRE ])--Shareholder rights firm [ Robbins Umeda LLP ] announces that the firm commenced a class action lawsuit on August 9, 2012, in the U.S. District Court, District of Massachusetts, Boston Division, on behalf of all persons who hold common stock of Network Engines, Inc. ("Network Engines") (NASDAQ: NEI) against Network Engines and its board of directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act") in connection with the proposed acquisition of Network Engines by UNICOM Systems, Inc. ("UNICOM").
The complaint arises out of a June 19, 2012 press release announcing that Network Engines had entered into a definitive merger agreement with UNICOM, pursuant to which Network Engines shareholders would receive $1.45 in cash for each share of Network Engines they own (the "Proposed Acquisition").
The complaint alleges that certain of the defendants, in connection with the Proposed Acquisition, breached or aided and abetted the other defendants' breaches of their fiduciary duties of loyalty and due care owed to Network Engines shareholders. The complaint further alleges that, in an attempt to secure shareholder approval of the Proposed Acquisition, the defendants filed a materially misleading Preliminary Proxy Statement on Schedule 14A with the U.S. Securities and Exchange Commission in violation of sections 14(a) and 20(a) of the Exchange Act. The omitted and/or misrepresented information is believed to be material in assisting Network Engines shareholders in making an informed decision about whether or not to vote in favor of the Proposed Acquisition.
The complaint seeks injunctive relief on behalf of the named plaintiff and all other Network Engines shareholders (the "Class") as of June 19, 2012. The plaintiff is represented by Robbins Umeda LLP.
If you wish to serve as lead plaintiff, you must move the Court no later than sixty days from August 17, 2012. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact attorney Gregory E. Del Gaizo of Robbins Umeda LLP at 800-350-6003, via the [ shareholder information form ] on our website, or by e-mail at [ info@robbinsumeda.com ]. Any member of the Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent Class member.
Robbins Umeda LLP, a California-based law firm, has significant experience representing investors in securities fraud class actions, merger-related shareholder class actions, and shareholder derivative actions. The firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multi-national corporate law firms, and career [ shareholder rights attorneys ]. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Past results do not guarantee similar outcome. For more information about the firm, please go to [ http://www.robbinsumeda.com ].
Press release link: [ http://www.robbinsumeda.com/shareholders-rights-blog/network-engines-inc/ ]