Faruqi & Faruqi, LLP, Co-Lead Counsel, Obtains Final Court Approval of $5.9 Million Settlement on Behalf of Comverge, Inc. Shareholders

On September 8, 2017, the Honorable Tamika Montgomery-Reeves, Vice Chancellor of the Delaware Court of Chancery, granted final approval of the proposed settlement in In re Comverge Shareholders Litigation, C.A. No. 7368-VCMR.  F&F, as co-lead counsel, represent stockholders who held Comverge, Inc. (“Comverge”) common stock (the “Class”) at the time Comverge was acquired by an affiliate of HIG Capital, LLC (“HIG”) for $1.75 per share (the “Merger”) in 2012.  The Settlement provides for a $5.9 million common fund (the “Common Fund”) in exchange for a release of claims against former directors of Comverge in connection with the Merger.  The Common Fund represents a $0.25 per share increase to the consideration Comverge stockholders received in the Merger and is an excellent recovery for the Class.