LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming January 29, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who sold National Instruments Corporation (“National Instruments” or the “Company”) (NASDAQ: NATI) common stock between May 25, 2022 and January 17, 2023, inclusive (the “Class Period”).
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On January 17, 2023, before the market opened, Emerson Electric Co. (“Emerson”) announced that it had made an all-cash offer to purchase all National Instruments shares for $53 per share. The timeline of the previous communications regarding Emerson’s offer indicates that Emerson had made its initial offer of $48 per share on May 25, 2022, emphasizing that National Instruments had concealed Emerson’s all-cash, no financing contingency, no regulatory risk offer from the investing public.
The complaint filed in this class action alleges that throughout the Class Period, Defendants failed to disclose to investors that NATI had received a formal acquisition offer from Emerson to purchase all outstanding shares of NATI common stock at prices significantly above the then-current market prices of NATI common stock, and therefore significantly above the prices at which NATI was repurchasing NATI common stock from unsuspecting Class members. Accordingly, NATI had an obligation to disclose that it had received a formal acquisition offer from Emerson or abstain from purchasing NATI stock from unsuspecting investors.
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If you sold National Instruments common stock during the Class Period, you may move the Court no later than January 29, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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