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Maxwell Technologies, Inc. (NASDAQ: MXWL) Investor Lawsuit Filed Over Alleged Wrongdoing In Acquisition

  • Investors who purchased shares of Maxwell Technologies, Inc. (NASDAQ: MXWL) may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Maxwell Technologies, Inc.
Security
NASDAQ: MXWL

Case Name
Maxwell Technologies Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the Southern District of California

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Summary

January 31, 2020 - The case was voluntarily dismissed.

February 26, 2019 - An investor, who currently holds shares of Maxwell Technologies, Inc. (NASDAQ: MXWL), filed a lawsuit in effort to halt the proposed takeover of Maxwell Technologies, Inc. by Tesla. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: MXWL stockholders by agreeing to sell Maxwell Technologies, Inc too cheaply via an unfair process.

San Diego, CA based Maxwell Technologies, Inc. develops, manufactures, and markets energy storage and power delivery products worldwide.

On February 4, 2019, Maxwell Technologies, Inc. (NASDAQ: MXWL) announced it has entered into an agreement to be acquired by Tesla, Inc. (Nasdaq: TSLA). The Offer will value each share of Maxwell common stock at $4.75 per share. However, the plaintiff claims that the offer is too low and undervalues Maxwell Technologies, Inc. Indeed, at least one analyst has set the high price target for NASDAQ: MXWL shares at $7.00 per share and NASDAQ: MXWL shares traded in early 2018 as high as $6.20 per share. Maxwell Technologies, Inc. reported that its annual Total Revenue rose from $121.24 million in 2016 to $130.36 million in 2017 and that its In addition, the plaintiff alleges that the process is also unfair NASDAQ: MXWL stockholders