NEW YORK, July 8, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Highpower International, Inc. ("Highpower International" or the "Company") (HPJ) in connection with the proposed acquisition of the Company by HPJ Parent Limited, a limited liability company formed by a consortium of Highpower International executives and directors (the "Consortium"). Under the terms of the agreement, Highpower International shareholders will be entitled to receive $4.80 per share.
If you own Highpower International shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
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New York, NY 10036
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WeissLaw is investigating whether Highpower International's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a target price of $12.86, or nearly three times the per share offer price. Additionally, HPJ announced double-digit growth in its unaudited first quarter of 2019 financial reports. It announced a 16.7% annual increase in net sales, a 16.8% annual increase in Lithium business net sales, and a remarkable 21.8% annual increase in gross margin.
WeissLaw is investigating whether Highpower International's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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