NEW YORK, Aug. 28, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, is investigating potential claims against the Board of Directors of Cobra Electronics Corporation ("Cobra") (NASDAQ: COBR) concerning the proposed sale of Cobra to private equity firm Monomoy Capital Partners II, L.P. ("Monomoy"). Under the terms of the proposed transaction, Monomoy will acquire all of the outstanding shares of Cobra common stock for only $4.30 per share. Directors and officers of Cobra holding approximately 2.6% of Cobra's outstanding shares of common stock have executed support agreements pursuant to which each of them will tender their shares in the tender offer.

The investigation concerns whether the senior management and board of directors of Cobra breached their fiduciary duties to shareholders by not engaging in a full and fair auction and process to sell the company; whether the price of $4.30 per share is unfairly low; and whether certain members of Cobra's management and board are receiving personal benefits for their own self-interests that are not also being shared with other shareholders. Indeed, the proposed offer price values Cobra at well below Cobra's book value of $5.83 per share. The offer price is also below the 52-week trading high of Cobra common stock of $4.35 per share.

If you are a shareholder of Cobra and would like additional information regarding this matter, at no cost or expense, please contact us at:

Tripp Levy PLLC
New York, New York
Toll free: 1-800-511-7037
Email: contact@tripplevy.com
www.tripplevy.com

Tripp Levy PLLC represents individual and institutional investors in shareholder actions and, along with its affiliates, has recovered billions of dollars for shareholders in securities actions. Tripp Levy PLLC has become affiliated with Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.

SOURCE Tripp Levy PLLC