NEW YORK, Aug. 4, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Numerex Corp.
("NMRX" or the "Company") (NASDAQ: NMRX) in connection with the
proposed acquisition of the Company by Sierra Wireless, Inc.
("Sierra") (NASDAQ: SWIR). Under the terms of the acquisition
agreement, the Company's shareholders will receive a fixed exchange
ratio of 0.18 of a share of Sierra for each NMRX share they own,
representing consideration of $4.12
based on Sierra's August 3 closing
price.
WeissLaw is investigating whether NMRX's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $5.50. Additionally, shares of NMRX traded
at $6.38 as recently as June, peaking
in December of 2016 when they traded at $9.01.
Moreover, the acquisition is a strategic and financially
attractive transaction for Sierra which will gain numerous benefits
from this deal, including:
- Acceleration of growth through the advancement of its IoT
device-to-cloud strategy with the addition of Numerex's established
customer base, sales capacity, proven solutions, and recurring
revenue;
- Improvements of scale and in global market-positioning;
- Diversification of its services business and revenue mix;
and
- Increase in recurring revenue of services business from 4%
annually to 10% or more.
Finally, upon closing, a meagre 10% of Sierra common shares will
be held by NMRX shareholders.
Given these facts, WeissLaw is investigating whether NMRX's
shareholders will obtain their fair and proportionate share of the
Company's continued success and future growth prospects. If
you own NMRX shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
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 or fill out the
form on our website,
http://www.weisslawllp.com/numerex-corp/
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SOURCE WeissLaw LLP