NEW YORK, June 13, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, has launched an investigation to determine whether the officers or directors of ‘Electro-Sensors, Inc. (“Electro-Sensors”) breached their fiduciary duties or violated federal securities laws in connection with Mobile X’s acquisition of the company.

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On June 13, 2022, Electro-Sensors announced that it had reached an agreement for acquisition by Mobile X in a cash and stock transaction. Pursuant to the merger agreement, Mobile X will pay approximately $4.83 per share in a one-time cash dividend. In addition, current Electro-Sensors shareholders will retain 11% ownership of the combined company. The deal is expected to close in the third quarter of 2022.

Bragar Eagel & Squire is concerned that Electro-Sensors’ board oversaw an unfair process and ultimately agreed to an inadequate merger deal. Accordingly, the company is reviewing all relevant aspects of the agreement and is committed to ensuring the best possible outcome for Electro-Sensors shareholders.

If you own shares of Electro-Sensors and are concerned about the proposed merger, or would like to know more about the investigation or your legal rights and remedies, please contact Melissa Fortunato by email at [email protected] bespc.com or by phone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation for you.

About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.

Contact information:
Bragar Eagel & Squire, CP
Melissa Fortunato, Esq.
[email protected]
www.bespc.com