SAN DIEGO -- (Business Wire)
Shareholder rights firm Robbins
Umeda LLP announces that the firm commenced a class action lawsuit
on August 9, 2012, in the U.S. District Court, District of
Massachusetts, Boston Division, on behalf of all persons who hold common
stock of Network Engines, Inc. ("Network Engines") (NASDAQ: NEI) against
Network Engines and its board of directors for, among other things,
violations of sections 14(a) and 20(a) of the Securities and Exchange
Act of 1934 (the "Exchange Act") in connection with the proposed
acquisition of Network Engines by UNICOM Systems, Inc. ("UNICOM").
The complaint arises out of a June 19, 2012 press release announcing
that Network Engines had entered into a definitive merger agreement with
UNICOM, pursuant to which Network Engines shareholders would receive
$1.45 in cash for each share of Network Engines they own (the "Proposed
The complaint alleges that certain of the defendants, in connection with
the Proposed Acquisition, breached or aided and abetted the other
defendants' breaches of their fiduciary duties of loyalty and due care
owed to Network Engines shareholders. The complaint further alleges
that, in an attempt to secure shareholder approval of the Proposed
Acquisition, the defendants filed a materially misleading Preliminary
Proxy Statement on Schedule 14A with the U.S. Securities and Exchange
Commission in violation of sections 14(a) and 20(a) of the Exchange Act.
The omitted and/or misrepresented information is believed to be material
in assisting Network Engines shareholders in making an informed decision
about whether or not to vote in favor of the Proposed Acquisition.
The complaint seeks injunctive relief on behalf of the named plaintiff
and all other Network Engines shareholders (the "Class") as of June 19,
2012. The plaintiff is represented by Robbins Umeda LLP.
If you wish to serve as lead plaintiff, you must move the Court no later
than sixty days from August 17, 2012. If you wish to discuss this action
or have any questions concerning this notice or your rights or
interests, please contact attorney Gregory E. Del Gaizo of Robbins Umeda
LLP at 800-350-6003, via the shareholder
information form on our website, or by e-mail at firstname.lastname@example.org.
Any member of the 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.
Robbins Umeda LLP, a California-based law firm, has significant
experience representing investors in securities fraud class actions,
merger-related shareholder class actions, and shareholder derivative
actions. The firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multi-national corporate
law firms, and career shareholder
rights attorneys. Robbins Umeda LLP has helped its clients realize
more than $1 billion of value for themselves and the companies in which
they have invested. Past results do not guarantee similar outcome. For
more information about the firm, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/network-engines-inc/
Robbins Umeda LLP
Gregory E. Del Gaizo
619-525-3990 or Toll
Source: Robbins Umeda LLP
© 2014 Canjex Publishing Ltd. All rights reserved.