Monteverde & Associates PC Files Class Action Lawsuit on Behalf of Shareholders of Gilat Satellite Networks Ltd. in the Eastern District of New York

NEW YORK, NY / ACCESSWIRE / May 8, 2020 / Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Eastern District of New York, captioned Romero v. Comtech Telecommunications Corp. et al, No. 2:20-cv-02070 (E.D.N.Y. May 06, 2020), on behalf of shareholders of Gilat Satellite Networks Ltd., ("Gilat" or the "Company") (NASDAQ:GILT) who held Gilat stock as of the record date on April 8, 2020 (the "Class Period"), and have been harmed by Comtech Telecommunications Corp's ("Comtech") alleged violations of Section 14(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the merger between the Gilat and Comtech.

Under the terms of the merger agreement, each ordinary share of Gilat stock will be converted into the right to receive (i) $7.18 in cash and (ii) 0.08425 shares of Comtech common stock (the "Merger Consideration"). The complaint alleges that the Merger Consideration represents inadequate value for Gilat shareholders and that the proxy statement issued in connection with the merger provided shareholders with materially incomplete and misleading information in violation of Section 14(a) of the Exchange Act. In particular, the complaint alleges that the proxy statement contained misleadingly incomplete information concerning Comtech's material financial projections. The special meeting of Gilat shareholders to vote on the merger was held on May 8, 2020.

Mr. Juan Monteverde is available to personally discuss this case with you and if you wish to serve as lead plaintiff, you must move the Court no later than July 7, 2020. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.

Click here for more information: https://www.monteverdelaw.com/case/gilat-satellite-networks-ltd. It is free and there is no cost or obligation to you.

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm's recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 alone, we recovered money for shareholders in 6 mergers & acquisitions class action cases.

Contact:

Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341
Cell: (646) 522-4840

Attorney Advertising. (C) 2020 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

SOURCE: Monteverde & Associates PC

ReleaseID: 589038