We are investigating whether the directors of Resonant Inc. (Nasdaq: RESN) (“RESN”) acted in the best interests of RESN shareholders in approving the sale of RESN to Murata Electronics North America (“Murata”) for $4.50 per share in cash.
If you remain a RESN shareholder and have questions about your legal rights, please contact us using the form below to discuss your options at no charge.
Why is there an investigation?
On February 15, 2022, RESN announced an agreement for Murata to purchase all outstanding shares of RESN for $4.50 per share in cash. The agreement has been approved by the boards of both companies.
Our investigation concerns whether RESN’s board acted in the best interests of RESN shareholders in approving the sale to Murata, including whether the acquisition price adequately compensates RESN shareholders, and whether all information regarding approval of the transaction has been fully disclosed.
In particular, according to an analysis of Wall Street RESN price targets in the last 90 days published on SeekingAlpha, the 5 analysts covering RESN have an average price target of $5.75 per share, which is above the sale price.