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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Net Element, Inc. (“Net Element” or the “Company”) (NASDAQ: NETE) with Mullen Technologies, Inc. (“Mullen”). Under the terms of the agreement, Mullen would receive 85% ownership of a surviving entity at closing, with Net Element’s investors owning 15%.
The Net Element merger investigation concerns whether the Board of Net Element breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Mullen is underpaying for Net Element shares, thus unlawfully harming Net Element shareholders.
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