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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Highpower International, Inc. (“Highpower” or the “Company”) (NASDAQ: HPJ) to HPJ Parent Limited, a limited liability company formed by a consortium of Highpower International executives and directors and Essence International Capital Limited (“HPJ Parent”). Under the terms of the deal, Highpower shareholders will receive $4.80 cash for every share of Highpower common stock owned.
The Highpower merger investigation concerns whether the Board of Highpower breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether HPJ Parent is underpaying for Highpower shares, thus unlawfully harming Highpower shareholders.
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