NEW YORK, May 15, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Control4
Corporation ("Control4" or the "Company") (NASDAQ: CTRL) in
connection with the proposed merger of the Company with
SnapAV. Under the terms of the merger agreement, Control4
shareholders will receive only $23.91
per share in cash.
If you own CTRL shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
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website
http://www.weisslawllp.com/
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WeissLaw is investigating whether Control4's Board acted to
maximize shareholder value prior to entering into the acquisition
agreement. Notably, nine analysts surveyed by Reuters reached
a price target consensus for the Company, even without a takeover
premium, of $25.90, approximately
$2.00 more than the deal price.
In addition, Control4 traded at more than $37 as recently as September 2018.
Given the paltry price (despite CTRL exceeding expectations in
12 straight quarters through 2018), WeissLaw is concentrating its
investigation on whether $23.91
represents a fair valuation for the Company's shares, and whether
all material information related to the proposed merger is fully
and fairly disclosed. Further, WeissLaw is investigating
whether Control4's Board has sought or is seeking a better deal for
the Company, especially if upward guidance is in order. This
is especially true if Control4 can penetrate the rapidly expanding
smart home market. Additionally, the Company reported in its
2018 10-K that it has grown its 4Sight Services subscriber
base.
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.
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SOURCE WeissLaw LLP