NEW YORK, NY / ACCESSWIRE / December 3, 2023 / Prominent investor rights law firm Wolf Popper LLP reminds investors that it has filed a securities class action lawsuit on behalf of sellers of National Instruments Corporation (NASDAQ:NATI) common stock between May 25, 2022 and January 17, 2023, inclusive (the "Class Period"). Captioned Waterford Township Police & Fire Retirement System v. National Instruments Corporation, No. 23-cv-10488 (S.D.N.Y.), the National Instruments class action lawsuit charges National Instruments, certain of its executive officers, and Emerson Electric Co. with violations of the Securities Exchange Act of 1934. A copy of the complaint is available on Wolf Popper's website by clicking here.

If you sold National Instruments common stock during the Class Period and wish to serve as lead plaintiff of the National Instruments class action lawsuit, or have any questions concerning the National Instruments class action lawsuit, please contact attorney Adam Savett of Wolf Popper by calling (212) 451-9655, or via e-mail at asavett@wolfpopper.com. Lead plaintiff motions for the National Instruments class action lawsuit must be filed with the Court no later than January 29, 2024.

CASE ALLEGATIONS: National Instruments is a producer of automated test equipment and virtual instrumentation software.

The National Instruments class action lawsuit alleges that defendants throughout the Class Period failed to disclose material information, which artificially deflated the price of National Instruments common stock.

On May 25, 2022, National Instruments received an unsolicited non-public offer from Emerson to purchase all the outstanding shares of National Instruments for $48.00 per share. On November 3, 2022 Emerson raised its offer to $53.00 per share. The National Instruments class action lawsuit alleges that while these offers were on the table and unknown to the investing public, National Instruments was repurchasing its common stock at market prices significantly below the prices offered by Emerson. National Instruments had an obligation to disclose that it had received a formal acquisition offer from Emerson or abstain from purchasing National Instruments stock from unsuspecting investors.

During the Class Period (between May 25, 2022 and January 13, 2023), National Instrument's average stock price was $37.66 per share. On Friday January 13, 2023, during pre-market hours, National Instruments disclosed that it was involved in a review of strategic options. On Tuesday January 17, 2023 (the next trading day), during pre-market hours, Emerson went public with its $53.00 per share offer. In response to these disclosures, the price of National Instruments common stock surged, and traded as high as $54.69 per share and closed at $52.04 per share on January 17, 2023, compared to a closing price on Thursday January 12, 2023 of $40.17 per share. The merger eventually closed on October 11, 2023, with Emerson acquiring National Instruments for $60 per share.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who sold National Instruments common stock during the Class Period to seek appointment as lead plaintiff in the National Instruments class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the National Instruments class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the National Instruments class action lawsuit. An investor's ability to share in any potential future recovery of the National Instruments class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT WOLF POPPER: Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

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Contact:

Wolf Popper LLP
Adam T. Savett
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9655
Tel.: (877) 370-7703
Email: asavett@wolfpopper.com

SOURCE: Wolf Popper LLP