Rigrodsky & Long, P.A. Investigates Buyout of EnergyConnect Group, Inc.

  • Do you own EnergyConnect Group, Inc. common stock?
  • Did you purchase your shares prior to March 23, 2011?
  • Do you feel the Company's sale to Johnson Controls, Inc is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of EnergyConnect Group, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Johnson Controls, Inc. in a transaction with a  total value of approximately $32.3 million.

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Rigrodsky & Long, P.A. Investigates Buyout of EnergyConnect Group, Inc.

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of EnergyConnect Group, Inc. (“EnergyConnect ” or the “Company”) (OTCBB: ECNG.ob) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Johnson Controls, Inc. (“Johnson Controls”) (NYSE: JCI) in a transaction with a  total value of approximately $32.3 million.

Under the proposed agreement, EnergyConnect shareholders will receive $0.2253 per share in cash for each EnergyConnect share they own.  The investigation concerns whether EnergyConnect’s board of directors failed to adequately shop the Company and obtain the best price possible for EnergyConnect’s shareholders before entering into the agreement with Johnson Controls. 

As recent as November 9, 2010, the Company reported a third quarter 2010 revenue increase of 68% over 2009.  Indeed, Andrew Warner, EnergyConnect’s CFO, said, “[t]he results for the first nine months of 2010 exceeded our expectations, more than doubling year-to-date Adjusted EBITDA, compared to the prior year period.”  Moreover, according to Yahoo! Finance, at least one analyst has set a price target of $2.50 per share for EnergyConnect stock.

If you own the common stock of EnergyConnect and purchased your shares before March 3, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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