STEVENSON, Md., Sept. 17, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the Delaware Court of Chancery on behalf of all common stockholders of Cobra Electronics Corporation ("Cobra" or the "Company") (Nasdaq: COBR ) concerning the proposed sale of the Company.
On September 10, 2014, Monomoy Capital Partners II, L.P. ("Monomoy") announced that its affiliate Venom Electronics Merger Sub, Inc. had commenced the previously announced cash tender offer for all outstanding shares of common stock of Cobra for $4.30 per share. The claims asserted in the lawsuit concern whether the Company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value and/or protect the interests of Cobra shareholders.
If you currently own common stock of Cobra and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616
