WILMINGTON, DE, Jan. 16, 2023 (GLOBE NEWSWIRE) — Andrews & Springer LLC, a specialized securities class action law firm representing shareholders nationwide, has been sued by another law firm on behalf of shareholders announced that it was KnowBe4, Inc. (NASDAQGS: KNBE) (“KnowBe4” or “Company”) is not responsible for corporate fraud and possible violations of federal securities laws.
Copies of the complaint may be obtained from the court or Andrews & Springer LLC. If you currently own KnowBe4 stock and would like to receive additional information and free investment protection, please visit http://www.andrewsspringer.com/cases-investigations/knowbe4-merger-class-action-investigation/ please. Please contact Craig J. Springer, Esq. Call cspringer@andrewsspringer.com or call toll-free 1-800-423-6013. You can also follow us on LinkedIn (www.linkedin.com/company/andrews-&-springer-llc, Twitter). www.twitter.com/Andrews Springer Or Facebook – check for future updates on www.facebook.com/AndrewsSpringer.
On October 11, 2022, KnowBe4 and Vista Equity Partners (“Vista”) officially announced that they had signed a definitive merger agreement under which Vista would acquire KNowBe4 in a merger valued at $4.6 billion. As a result of the merger, KnowBe4 stockholders are expected to receive only $24.90 per share in cash in exchange for each share of KnowBe4 (the “Merger”). The company claims shareholders will receive a stock premium, but the merger price is 11% lower than the $28.00 per share target set by Cowen and Company and Truist Securities in August and September 2022. . merger. This consideration is lower than his 52-week high of $27.40 per share on KnowBe4.
KnowBe4 shareholders, represented by another law firm, have filed a complaint against KnowBe4 for federal securities violations. The complaint is filed in the United States District Court for the Southern District of New York, Case No. 1:22-cv-09727.
According to a lawsuit filed on November 15, 2022, Defendants have filed a proxy statement (the “Power of Attorney”) with the U.S. Securities and Exchange Commission (“SEC”) in connection with the merger.
The power of attorney omits important information about the merger, which makes the power of attorney false and misleading. Plaintiffs therefore argue that the merger should be held until the defendants disclose more information to shareholders.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, fiduciary breaches or corporate misconduct. Having previously championed some of the world’s largest financial institutions, our founding members have put their valuable knowledge, experience and outstanding skills to work for the sole purpose of delivering positive results for investors. These characteristics are characteristic of our innovative approach to each case we decide to prosecute. For more information, please visit our website www.andrewsspringer.com. This notice may constitute attorney advertising.
