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Did Control4 Just Try to End-Run Multiple Shareholder Lawsuits?

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Photo of Martin Plaehn, CEO of Control4

As Strata-gee recently reported, there are currently seven active lawsuits that have been filed against Control4 and their Board of Directors in the wake of their acquisition by SnapAV. In a new DEFA14A filing with the Securities and Exchange Commission last Friday, the company addresses the issue of these lawsuits – saying that they are going to fight them. But then they do something very curious – they file an amendment to their original Schedule 14A filing, their Proxy Statement, with added information that appears to add missing material in response to allegations in the lawsuits filed against them.

Is Control4 trying to end-run the litigation just days before shareholders vote? See more below…

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Control4 Hit With Another Class Action Lawsuit by Shareholders

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Control4 logo

The Control4 Corporation has been hit with another class action lawsuit filed on behalf of all shareholders of their stock in connection with their acquisition by Wirepath Home Systems, LLC – better known as SnapAV. Filed by the law firm of Rigrodsky & Long, P.A., the lawsuit alleges certain violations of Securities Exchange Act of 1934 and names both Control4 and its Board of Directors as defendants.

See more on this litigation against Control4…

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SnapAV Slammed with Credit Downgrade by Moody’s

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SnapAV logo

Credit rating agency Moody’s Investors Service has downgraded the credit rating of Wirepath LLC (corporate name of SnapAV) from B2 to B3 in the wake of their announced acquisition of Control4. The primary reason for the downgrade is due to the fact that SnapAV will be forced to increase their debt by an additional $390 million to a new high of $683 million in order to close on this acquisition.

See more on SnapAV’s credit downgrade…

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The Real Story of Why Control4 Wanted to be Acquired

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Photo of Martin Plaehn, Control4 CEO

In the wake of the recent announcement about the acquisition of Control4 by SnapAV, all executives associated with this deal have not been available to the media…their lips are sealed. But Control4 is a public company – at least until this deal closes and they go private – and a recent filing gives a dramatic, detailed view of how hard the parties worked to make this deal happen, and why Control4 really, really wanted to be acquired.

See new details on how the SnapAV/Control4 deal came to be…

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Control4 Smart Home OS 3 – Making Complicated Installations as Simple as a Smartphone

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Control4 Smart Home OS 3

Control4 announced today an all-new and improved operating system for Control4 installations that they call Smart Home OS 3. OS 3 is designed to be an easy unifier of the many devices in consumers’ installations, offer a robust infrastructure, give consumers choice & simplicity, maintain privacy, and – critical for integrators – enables professional support. It is their most tested and intuitive user experience that is as simple to use as a smartphone.

See more on the experience upgrade that Control4’s OS 3 offers users…

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SnapAV Snaps Up Control4 in Deal Valued at $680M

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SnapAV logo

The world exploded this morning with the news that SnapAV and Control4 are merging their operations in a transaction that no one saw coming. Although publicized as a merger, actually SnapAV is acquiring Control4, agreeing to pay $23.91/share in a deal that is worth a total of about $680 million.

See how SnapAV’s acquisition of Control4 is reshaping the industry…

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Control4 Issues Advisory on ‘Works With Nest’ Shutdown

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Control4 logo, new

Control4 has issued an advisory this week to reassure integrators and their clients that the company will support the ‘Works With Google Assistant’ program and is working on new Nest drivers consistent with Google’s Certification standards to avoid issues related to the recently announced shutting down of the ‘Works With Nest’ program.

See how Control4 is springing into action…

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Control4 Designates New Class of Pinnacle Dealers

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Control4 logo, new

Control4 has recognized a new class of 67 dealers whose level of business with the brand has earned them the designation as a Pinnacle status partner. Pinnacle status, Control4 says, is a lifetime achievement that indicates their importance as a highly supportive partner.

See who made the grade as a Control4 Pinnacle dealer…

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Control4 CEO Warns of Slowing Growth, Says Retrofit is Key

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Control4 logo, new

By most measures, Control4 had an excellent quarter and a record year in Fiscal 2018. Revenues and income were up for the quarter and the company noted that 2018 was another record year in financial performance with both revenues and profits increasing nicely.

But during an investor call, CEO Martin Plaehn warned that they are experiencing new headwinds that are slowing growth. And on the day after the fiscal results were announced, Control4’s stock got hit hard, dropping at one point more than 18% and closing down about 17%.

See what’s going on at Control4…

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Residential Systems: New Takes on Tech Training

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Residential Systems logoWill you indulge me for a moment? I want to draw your attention to an article I wrote for Residential Systems titled New Takes on Tech Training. Regular Strata-gee readers are most likely aware of the fact that I also write for Residential Systems, and this article is one that I’m quite proud of.

Why am I proud of this particular article? Read on… [Read more…] about Residential Systems: New Takes on Tech Training