NEW YORK, Feb. 04, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Maxwell Technologies, Inc. (“Maxwell” or the “Company”) (NASDAQGS: MXWL) stock prior to February 4, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Maxwell to Tesla, Inc. (NASDAQ: TSLA). Under the terms of the transaction, each share of Maxwell is valued at $4.75, with each share exchanged for “a fraction of a share of Tesla’s common stock, equal to the quotient obtained by dividing $4.75 by a volume weighted average price of one share of Tesla’s common stock as reported on the NASDAQ Global Select Market for the five consecutive trading days preceding the expiration of the Offer…” Certain insiders owning an approximate 7.56% of Maxwell’s outstanding common shares have already agreed to tender their shares. To learn more about the action and your rights, go to:
https://www.zlk.com/mna/maxwell-technologies-inc
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The Maxwell merger investigation concerns whether the Board of Maxwell breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Tesla, Inc. is underpaying for Maxwell shares, thus unlawfully harming Maxwell shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com