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Investigation announced for Investors of Net Element, Inc. (NASDAQ: NETE) over Takeover

08-13-2020 11:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Net Element, Inc. (NASDAQ: NETE) in connection with the proposed takeover was announced

An investigation on behalf of investors of Net Element, Inc. (NASDAQ: NETE) in connection with the proposed takeover was announced

An investigation was announced concerning whether the takeover of Net Element, Inc. is unfair to NASDAQ: NETE stockholders.

Investors who purchased shares of Net Element, Inc. (NASDAQ: NETE) and currently hold any of those NASDAQ: NETE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Net Element, Inc. breached their fiduciary duties owed to NASDAQ: NETE investors in connection with the proposed acquisition.

Miami based Net Element, Inc. operates as a financial technology and value-added solutions company in North America, Russia, and the Commonwealth of Independent States. On 05, 2020, Net Element, Inc. (NASDAQ: NETE) announced the execution of an agreement to merge with privately-held Mullen Technologies, Inc. in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger Company.

However, given that at least one analyst has set the high target price for NASDAQ: NETE shares at $15.80 per share, the
investigation concerns whether the offer is unfair to Net Element, Inc. (NASDAQ: NETE stockholders. More specifically, the investigation concerns whether the Net Element, Inc. (NASDAQ: NETE Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of Net Element, Inc. (NASDAQ: NETE) closed on August 13, 2020, at $8.62 per share.

Those who are current investors in Net Element, Inc. (NASDAQ: NETE) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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