Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) today announced that a class action has been commenced in the United States District Court for the Southern District of Indiana on behalf of holders of BrightPoint, Inc. (“BrightPoint”) (NASDAQ:CELL) common stock on July 2, 2012, in connection with the proposed acquisition of BrightPoint by Ingram Micro Inc. (“Ingram”).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs’ counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges BrightPoint and its Board of Directors (the “Board”) with violations of the Securities Exchange Act of 1934 (“1934 Act”). BrightPoint is a global leader in providing device lifecycle services to the wireless industry.
On July 2, 2012, BrightPoint announced it had entered into a definitive merger agreement pursuant to which Ingram will acquire all of the outstanding shares of BrightPoint common stock for $9.00 per share (the “Proposed Acquisition”). The complaint alleges that, in an attempt to secure shareholder support for the Proposed Acquisition, on July 19, 2012, defendants issued a materially false and misleading Preliminary Proxy on Schedule 14A (the “Proxy”). The Proxy, which recommends that BrightPoint shareholders vote in favor of the Proposed Acquisition, omits and/or misrepresents material information about the unfair sales process for the Company, conflicts of interest that corrupted the sales process, the unfair consideration offered in the Proposed Acquisition, and the actual intrinsic value of the Company on a stand-alone basis and as a merger partner for Ingram, which information is material to the impending decision of BrightPoint’s shareholders whether or not to vote in favor of the Proposed Acquisition. Thus, plaintiffs seek injunctive relief to ensure that defendants cure their violations of §§14(a) and 20(a) of the 1934 Act before BrightPoint shareholders are asked to vote on the Proposed Acquisition.
Plaintiffs seek injunctive and equitable relief on behalf of holders of BrightPoint common stock on July 2, 2012. The plaintiffs are represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $1.5 trillion. The firm has obtained the largest recoveries in history in six of the eight categories of shareholder class action settlements and has been ranked number one in the number of shareholder class action recoveries in MSCI’s Top SCAS 50 every year since 2003. According to Cornerstone Research, the firm’s recoveries have averaged 35% above the median for all firms over the past seven years (2005-2011). Please visit http://www.rgrdlaw.com for more information.