Monteverde & Associates PC Files Class Action Lawsuit On Behalf Of Shareholders Of Echelon Corporation In The Northern District Of California
ECHELON (ELON)
Last echelon earnings: 8/2 04:05 pm
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US:NASDAQ Investor Relations:
investors.echelon.com
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Source: PR Newswire
NEW YORK, Aug. 8, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for The Northern District of California, Case No.5:18-cv-4415, on behalf of shareholders of Echelon Corporation ("Echelon" or the "Company") (NasdaqGS: ELON) who held Echelon shares and have been harmed by Echelon and its board of directors' (the "Board") for alleged violations of Sections 14(a), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Adesto Technologies Corporation (NasdaqCM: IOTS) ( the "Merger Agreement"). Under the terms of the agreement, Echelon shareholders will receive $8.50 for each Echelon share of common stock they own. The complaint questions the fairness of the consideration offered to the Company's shareholders and alleges that the proxy statement regarding the Proposed Transaction (the "Proxy") fails to disclose
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