NEW YORK–(BUSINESS WIRE)–#Acquisition–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Net Element, Inc. (NASDAQ: NETE) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Mullen Technologies, Inc.
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On August 5, 2020, Net Element announced that it had signed an agreement to be merged with Mullen. Upon Completion of the merger, Net Element shareholders will own 15% and Mullen shareholders will own 85% of the issued and outstanding shares of the combined company. Net element will have the right to acquire up to an additional 6.7% of the combined company depending on the amount of loans from Net Element to Mullen prior to the closing.
Bragar Eagel & Squire is concerned that Net Element’s board of directors oversaw an unfair process. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Net Element’s stockholders.
If you own shares of Net Element and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.