Power-One Investor Says $1B ABB Offer Is Too Low

Law360, Wilmington (May 14, 2013, 6:07 PM EDT) -- Solar energy firm Power-One Inc. and its executives were hit with a shareholder class action Tuesday claiming that its proposed $1 billion sale to Swiss conglomerate ABB Ltd. undervalues Power-One with the renewable energy market set to explode over the next decade.

Mario Furtado filed the action in Delaware Chancery Court, citing U.S. Department of Energy predictions that global energy demands will double by 2025, and International Energy Agency forecasts of a 10 percent growth in photovoltaic solar energy systems every year through 2021, as prime...
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