Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises National Instruments Corporation (NATI )investors that a lawsuit was filed on behalf of investors that purchased NATI securities before Jan. 17, 2023 below the acquisition price. (Investors who sold NATI from May 25, 2022 – Jan. 17, 2023)
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The inquiry is exploring whether NATI may have deliberately misled investors about offers from Emerson Electric. The complaint against NATI includes allegations of deceiving the investing public about the company's prospects, artificially inflating its stock price, and causing investors to sell shares at artificially low prices.
Significant events in this matter include:
On January 13, 2023, NATI announced a review of strategic options to maximize shareholder value, adopted a poison pill, and stated that this process might not lead to a specific transaction. However, NATI did not disclose that it had already received a substantial acquisition offer from Emerson Electric.
The truth emerged on January 17, 2023, when Emerson Electric disclosed a timeline of its previous acquisition proposals to NATI. Emerson revealed its initial offer of $48 per share on May 25, 2023, a subsequent increase to $53 per share on November 3, 2022, and a reiteration of this increased offer on January 11, 2023. Emerson also noted NATI's increased financial guidance in response to its offer, despite facing ongoing challenges.
Following Emerson's announcement, NATI's share price soared, reaching as high as $54.69 on January 17, 2023.
On April 12, 2023, Emerson announced a definitive agreement to acquire NATI for $60 per share in cash, valuing the company at $8.2 billion. This price represented a nearly 50% premium over NATI's closing price on January 12, 2023. The acquisition was completed on October 11, 2023.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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