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SHAREHOLDER ALERT: WeissLaw LLP Investigates Control4 Corporation

NEW YORK, May 15, 2019 /PRNewswire/ -- WeissLaw LLP  is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Control4 Corporation ("Control4" or the "Company") (CTRL) in connection with the proposed merger of the Company with SnapAV.  Under the terms of the merger agreement, Control4 shareholders will receive only $23.91 per share in cash.

If you own CTRL shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

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WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

WeissLaw is investigating whether Control4's Board acted to maximize shareholder value prior to entering into the acquisition agreement.  Notably, nine analysts surveyed by Reuters reached a price target consensus for the Company, even without a takeover premium, of $25.90, approximately $2.00 more than the deal price.  In addition, Control4 traded at more than $37 as recently as September 2018. 

Given the paltry price (despite CTRL exceeding expectations in 12 straight quarters through 2018), WeissLaw is concentrating its investigation on whether $23.91 represents a fair valuation for the Company's shares, and whether all material information related to the proposed merger is fully and fairly disclosed.  Further, WeissLaw is investigating whether Control4's Board has sought or is seeking a better deal for the Company, especially if upward guidance is in order.  This is especially true if Control4 can penetrate the rapidly expanding smart home market.  Additionally, the Company reported in its 2018 10-K that it has grown its 4Sight Services subscriber base. 

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 stockinfo@weisslawllp.com.

 

Cision

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