(ORBC): Johnson Fistel Investigates Proposed Sale of ORBCOMM; Are Shareholders Getting a Fair Deal?

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Apr 08, 2021, 10:52 ET

SAN DIEGO, April 8, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of ORBCOMM Inc. ("ORBCOMM" or the "Company") (NASDAQ: ORBC) breached their fiduciary duties in connection with the proposed sale of the Company GI Partners.

On April 8, 2021, ORBCOMM announced that it had entered into a definitive merger agreement with Pioneer. Under the terms of the deal, ORBCOMM stockholders will receive only $11.50 in cash per outstanding share of common stock upon the transaction's closing.

The investigation concerns whether the ORBCOMM board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for ORBCOMM shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth; also, one Wall Street analyst has a $13.00 price target on the stock.

If you are a shareholder of ORBCOMM and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP