PowerFleet, Inc. - Common Stock (PWFL)

NEW YORK, April 18, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQPWFL) on behalf of PowerFleet stockholders. Our investigation concerns whether PowerFleet has violated the federal securities laws and/or engaged in other unlawful business practices.

On October 10,2023, Powerfleet (NASDAQPWFL) and MiX Telematics announced that they have entered into a definitive agreement to form one of the largest mobile asset Internet of Things (“IoT”) Software-as-a-Service (“SaaS”) providers in the world. This powerful combination will form a scaled, global entity of choice focused on helping customers save lives, time, and money by solving mission-critical business challenges including safety and risk management, compliance , sustainability , and operational efficiency. On February 28, 2024, the companies announced they have received shareholder approval on the proposals related to the business combination between the parties. The transaction is expected to close the first week of April 2024, subject to the satisfaction of remaining customary conditions. Upon closing, the combined business will be branded as Powerfleet, with its primary listing on Nasdaq. For more information, visit the company’s website at www.powerfleet.com .

MiX Telematics Limited (NYSE: MIXT, JSE: MIX) and Powerfleet (Nasdaq: PWFL) announced that they will be presenting at the Raymond James TMT and Consumer Conference being held December 4-6, 2023, at the Lotte New York Palace in New York, NY.

Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of PowerFleet, Inc. (NasdaqGM: PWFL) with MiX Telematics Limited (NYSEMIXT). pursuant to which PowerFleet shareholders will end up owning just 35% of the combined company. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger undervalues the Company.

PowerFleet, Inc. (NASDAQPWFL) is one of today’s top gainers. The company’s shares are currently up 28.43% on the day to $2.53.

Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of PowerFleet, Inc. (NASDAQPWFL) and MiX Telematics Limited is fair to PowerFleet shareholders. Upon completion of the proposed transaction, current PowerFleet shareholders will own approximately 35% of the combined company.

Powerfleet (NASDAQPWFL) is a global leader of internet of things (“IoT”) software-as-a-service (“SaaS”) solutions that optimize the performance of mobile assets and resources to unify business operations. Powerfleet Unity, our fleet intelligence platform, ingests, processes, and enriches data from every vehicle, asset, and person – powering artificial-intelligence insights to transform the way our customers do business.