Faruqi & Faruqi, LLP Announces Investigation of Cogent, Inc. (COGT, MMM)

Faruqi & Faruqi, LLP is investigating the Board of Directors of Cogent, Inc. COGT for potential breaches of fiduciary duty in connection with their conduct related to the sale of the Company to 3M Co. MMM. The proposed transaction offers Cogent shareholders to only receive $10.50 in cash for each share they own. According to Thomson/First Call, at least one financial analyst values Cogent’s common stock at $16.00 per share. Whether the Cogent’s Board of Directors breached their fiduciary duties to Cogent’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Cogent shares and by how much this proposed transaction undervalues the Company to the detriment of Cogent shareholders are the key focus of this investigation.