Lundy Law Commences An Investigation Into The Proposed Acquisition Of Audience, Inc.
Lundy Law is investigating potential claims against the Board of Directors of Audience, Inc. (“Audience” or the “Company”) (NASDAQ: ADNC) for possible breaches of fiduciary duty and other violations of law in connection with the proposed acquisition of the Company by Knowles Corporation (“Knowles”), in a transaction valued at approximately $85 million. Under the terms of the proposed transaction, Audience shareholders will receive approximately $5.00 per share, comprised of $2.50 in cash and $2.50 in Knowles common stock
Among other things, the investigation concerns whether the proposed transaction undervalues the Company and whether the Board of Directors of Audience is achieving the best possible value for the Company’s shareholders. Notably, Audience stock traded at over $13.00 per share in June 2014, and recently traded as high as $6.18 per share on April 20, 2015. Further, one analyst has recently set a price target of $10.00 per share on Audience stock.
If you own shares of Audience common stock and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw, or visit https://www.lundylaw.com/press-releases/ADNC.
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