MILWAUKEE, April 30, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Audience for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Audience to Knowles.
Click here to learn how to join the action: http://www.ademilaw.com/case/Audience or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Audience’s long-term financial outlook is positive and yet shareholders will receive only the equivalent of $5 per share. Knowles is well aware of Audience’s’ improving financial metrics and is purchasing Audience at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Audience receive and accept a superior bid. Audience’s insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of Audience not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Audience’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Audience given its current financial condition and prospects.
If you own shares of Audience and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/Audience.
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