Newman Ferrara LLP Announces Investigation of Cobra Electronics Corporation

  Newman Ferrara LLP Announces Investigation of Cobra Electronics Corporation

Business Wire

NEW YORK -- August 28, 2014

Newman Ferrara LLP is investigating potential claims against the Board of
Directors of Cobra Electronics Corporation (“Cobra”) (Nasdaq:COBR) concerning
the proposed sale of Cobra to private equity firm Monomoy Capital Partners
(“Monomoy”).

Under the terms of the proposed transaction, Monomoy will commence a tender
offer within ten business days to acquire all outstanding shares of Cobra
common stock for only $4.30 per share. However, the proposed offer price
values Cobra at well below Cobra’s June book value of $5.83 per share. The
offer price is also below the 52-week trading high of Cobra common stock of
$4.35 per share. The proposed transaction is expected to close in the fourth
quarter of 2014.

Newman Ferrara LLP’s investigation concerns whether Cobra’s Board of Directors
has breached its fiduciary duties to act in the best interests of Cobra’s
stockholders and to take all necessary steps to ensure that Cobra’s
stockholders receive the maximum value readily available for their shares of
Cobra common stock.

Concerned investors may contact Newman Ferrara attorney Roy Shimon at
rshimon@nfllp.com to discuss this investigation, their rights, or potential
remedies.

Newman Ferrara maintains a multifaceted practice based in New York City with
attorneys specializing in complex commercial and multi-party litigation,
securities fraud and shareholder litigation, consumer protection, civil
rights, and real estate. For more information, please visit the firm website
at www.nfllp.com.

Contact:

Newman Ferrara LLP
Roy Shimon, 212-619-5400
rshimon@nfllp.com
 
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