Brodsky & Smith To Investigate Cobra Electronics In Connection With Sale

(RTTNews) - Law office of Brodsky & Smith, LLC Saturday announced that it is investigating potential claims against the Board of Directors of Cobra Electronics Corp. (COBR) related to its proposed acquisition by Monomoy Capital Partners II, L.P.

Under the terms of the deal, Cobra shareholders will receive only $4.30 in cash for each share of Cobra stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Cobra for not acting in the company's shareholders' best interests in connection with the sale process.

The transaction may undervalue Cobra and represents a loss or no real gain for many long-term Cobra shareholders, Brodsky & Smith said.