WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Electro Rent Corporation (NASDAQ GS: ELRC)?
- Did you purchase any of your shares prior to May 31, 2016?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Electro Rent Corporation (“Electro Rent” or the “Company”) (NASDAQ GS: ELRC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Platinum Equity, in a transaction valued at approximately $323.4 million.
Click here to learn more: http://rigrodskylong.com/investigations/electro-rent-corporation-elrc.
Under the terms of the agreement, shareholders of Electro Rent will receive $13.12 in cash for each share of Electro Rent common stock.
The investigation concerns whether Electro Rent’s board of directors failed to adequately shop the Company and obtain the best possible value for Electro Rent shareholders before entering into an agreement with Platinum Equity. According to Yahoo! Finance, at least one analyst has issued a price target for Electro Rent stock at $15.00 per share.
If you own the common stock of Electro Rent and purchased your shares before May 31, 2016, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://rigrodskylong.com/investigations/electro-rent-corporation-elrc.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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