SAN DIEGO--(BUSINESS WIRE)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Multiband Corporation (MBND) breached their fiduciary duties in connection with the proposed acquisition by Goodman Networks Inc.
On May 22, 2013, Goodman Networks Inc. announced that it had entered into a definitive merger agreement to acquire all outstanding shares of Multiband for $3.25 per share.
The investigation will determine whether the board of directors breached their fiduciary duties to stockholders by failing to satisfactorily shop the company before entering into this agreement. Jim Baker, lead analyst for Johnson & Weaver, stated that, "Goodman Networks’ offer appears to be inadequate and not in the best interest of Multiband’s shareholders." Baker noted that Multiband is trading at a low multiple relative to this year’s expected earnings. Additionally, one analyst has a target price of $4.00, greater than the $3.25 buyout price.
If you are a Multiband shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Jim Baker, 619-230-0063 Ext. 118