Press release from Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Power-One Inc. Proposed Acquisition by ABB Ltd.
Monday, April 22, 2013
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Power-One Inc. Proposed Acquisition by ABB Ltd.13:32 EDT Monday, April 22, 2013
SAN DIEGO (Business Wire) -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Power-One Inc. (Nasdaq:PWER) breached their fiduciary duties in connection with the proposed acquisition by ABB Ltd.
On April 22, 2013, ABB announced that it had entered into a definitive merger agreement to acquire all outstanding shares of Power-One for $6.35 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, "ABB's offer appears to be inadequate and not in the best interest of Power-One's shareholders." In particular, Baker noted that Power-One is debt free, has over $266 million in cash and has doubled its market share in a key segment of the business over the last several years.
If you are a Power-One shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) 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.
Johnson & Weaver, LLP
Jim Baker, 619-230-0063 Ext. 118