The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Audience Inc (NASDAQ:ADNC), was launched concerning whether the takeover of Audience Inc. by Knowles Corporation for a value of approximately $5.00 per share is unfair to NASDAQ:ADNC stockholders.
Investors who purchased shares of Audience Inc (NASDAQ:ADNC) and currently hold any of those NASDAQ:ADNC shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Audience Inc breached their fiduciary duties owed to NASDAQ:ADNC investors in connection with the proposed acquisition.
However, On April 30, 2015, Knowles Corporation (NYSE: KN) announced it has entered into an agreement to acquire Audience, Inc. Under the terms of the transaction, Knowles will pay approximately $5.00 per share, comprised of $2.50 in cash and $2.50 in Knowles common stock, subject to the collar described below.
However, given that at least one analyst has set the high target price for NASDAQ:ADNC shares at $10.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:ADNC stockholders. More specifically, the investigation concerns whether the Audience Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Shares of Audience Inc (NASDAQ:ADNC) traded during 2013 as high as $13.88 per share and during 2014 as high as $13.35 per share.
On May 12, 2015, NASDAQ:ADNC shares closed at $4.75 per share.
Those who are current investors in Audience Inc (NASDAQ:ADNC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego