NEW YORK, June 1, 2016 /PRNewswire/ -- On May 1, 2016, a private equity firm, Platinum
Equity announced that it is acquiring Electro Rent Corporation
(NASDAQ: ELRC) for $13.12 per
share. According to Carl
Stine, who is a partner at Wolf Popper LLP, "Clearly,
Platinum Equity is taking advantage on the fact that Electro Rent's
Chairman plans to retire in July 2016
and wants to sell now, even if it's a bad price." The offer
price is below at least one analyst's price target of $15.00 per share.
Wolf Popper is investigating
claims on behalf of investors in Electro Rent concerning the
transaction. Electro Rent's shareholders seeking more
information about the transaction or Wolf
Popper's investigation can contact Mr. Stine at (212)
759-4600 or cstine@wolfpopper.com.
Wolf Popper has extensive
experience representing investors in mergers and acquisition
lawsuits and has successfully ensured that investors receive the
maximum compensation. Twelve Wolf Popper attorneys were named
Rising Stars or Super Lawyers in the 2015 Super Lawyers New York
City Metro Edition, including Wolf
Popper partner Carl Stine,
who was included in the Super Lawyers Top 100 List for the
New York City Metro area.
View Wolf Popper attorney biographies at www.wolfpopper.com.
Attorney Advertising: Prior Results Do Not Guarantee A Similar
Outcome.
Wolf Popper LLP
845 Third Avenue
New York, New York 10022
Telephone: 212-759-4600
Toll Free Tel: 877-370-7703
Toll Free Fax: 877-370-7704
Email: cstine@wolfpopper.com
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SOURCE Wolf Popper LLP