Thursday, October 21, 2010

Cogent Dodges Shareholder Lawsuit

Pasadena-based Cogent, the maker of automated fingerprint and other biometrics hardware, reported today that the Delaware Supreme Court has refused a shareholder plaintiff petition, requesting an appeal of an earlier opinion of the court denying an injunction on 3M's tender offer for Cogent's outstanding shares. Cogent had been sued by a law firm representing shareholders over its recently announced deal to be acquired by 3M, in a deal worth $943M.