(MENAFN- GlobeNewsWire - Nasdaq) Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm , a law firm specializing in securities class action cases representing shareholders nationwide, is currently looking into potential claims of a breach of fiduciary duty involving the Board of Directors at EngageSmart, Inc. (NYSE: ESMT) ("EngageSmart" or the "Company") in connection with the Company's sale to the private equity firm Vista Equity Partners. On October 23, 2023, both parties announced an initial agreement in which Vista would acquire EngageSmart through a going-private merger. As a result of this merger, Inovalon shareholders are expected to receive only $23.00 per share in cash for each EngageSmart share they hold.
Investors are encouraged to contact attorney Lesley F. Portnoy , by phone 844-767-8529 or email : , to discuss their legal rights, or click here to join the case via . The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses.
Our firm's ongoing investigation has revealed significant conflicts of interest associated with this merger, raising concerns about the fairness of the process and consideration. Despite the Company's assertion that shareholders will receive a premium for their shares, the proposed deal falls short of the $30.00 per share price target set by Truist Securities on October 5, 2023, just weeks before the merger announcement. Additionally, it is below the $25.70 per share price target established by Baptista Research on October 9, 2023.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
310-692-8883
Attorney Advertising
Tags $ESMT Class Action Related Links
MENAFN24102023004107003653ID1107297496
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.