NEW YORK, Oct. 24, 2017 /PRNewswire/ -- WeissLaw LLP
announced that a class action was commenced in the United States
District Court for the Northern District of Georgia on behalf of shareholders of Numerex
Corp. ("Numerex") (NASDAQ: NMRX) seeking to pursue remedies under
the Securities and Exchange Act of 1934 (the "Exchange Act") in
connection with the proposed acquisition of Numerex by Sierra
Wireless, Inc. ("Sierra Wireless") (NASDAQ: SWIR) (TSX: SW).
On August 3, 2017, Numerex and
Sierra Wireless announced that they had entered into a definitive
merger agreement pursuant to which Sierra Wireless will acquire all
outstanding shares of Numerex in a stock-for-stock merger
transaction (the "Transaction"). The equity value of the
Transaction is approximately $107
million based on Sierra Wireless' closing stock price on
August 1, 2017 of $29.65 per share. Under the terms of the
agreement, Numerex shareholders will receive a fixed exchange ratio
of 0.1800 common shares of Sierra Wireless for each share of
Numerex common stock.
The plaintiff is represented by WeissLaw, which has expertise in
prosecuting investor class actions and extensive experience in
actions involving financial fraud. The complaint seeks
injunctive relief on behalf of the named plaintiff and all Numerex
shareholders. The complaint alleges that in an attempt to
secure shareholder approval for the merger, the defendants filed a
materially false and/or misleading Registration Statement with the
SEC in violation of the Exchange Act. The omitted and/or
misrepresented information is believed to be material to Numerex
shareholders' ability to make an informed decision whether to
approve the Transaction.
If you wish to serve as lead plaintiff, you must move the
Court no later than sixty (60) days from today. If you wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact plaintiff's counsel,
Joshua M. Rubin of WeissLaw
at 888.593.4771, or by e-mail at
stockinfo@weisslawllp.com. Any member of the putative
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
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 please email us at
stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP