Powerfleet Prospectus Allegedly Omitted MiX Telematics Deal Data

Powerfleet Inc. and its directors omitted key details in a prospectus for a proposed deal to merge with MiX Telematics Limited in a tie-up that would form one of the nation’s largest provider of mobile asset management, vehicle tracking, and other transportation services, a shareholder complaint says.

The proxy statement left out information shareholders need to cast their votes to approve or deny the deal at a Feb. 28 shareholder meeting, including financial projections for the combined company, as well as financial analyses, and potential conflicts of interest faced by financial adviser William Blair & Co. LLC, according to ...