WILMINGTON, Del., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors (the “Board”) of Pluralsight, Inc. (“Pluralsight” or the “Company”) relating to the sale of the Company to private equity firm Vista Equity Partners (“Vista”). On December 13, 2020, the two parties announced the signing of a definitive merger agreement pursuant to which Vista will acquire Pluralsight in a merger worth $3.5 billion. As a result, Pluralsight’s shareholders are only anticipated to receive $20.26 per share in cash in exchange for each share of Pluralsight.
Our Firm's investigation so far has discovered that the process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. Just days following the announcement of the merger, several of Pluralsight’s largest shareholders voiced their opposition to the merger. Akaris Global Partners LP, owner of approximately 1% of Pluralsight’s Class A shares, wrote in a letter to Pluralsight’s Board that it believes Pluralsight to be worth $30.00 per share and that it intends to vote “AGAINST” the merger. Eminence Capital, a shareholder that holds 4.94% of Pluralsight’s Class A stock, issued a letter to Pluralsight which states that it is “strongly opposed” to current terms of the merger which provided a “de minimis” premium to stockholders.
If you own shares of Pluralsight and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/pluralsight-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. This notice may constitute Attorney Advertising.
| Contact: | Craig J. Springer, Esq. |
| cspringer@andrewsspringer.com | |
| Toll Free: 1-800-423-6013 |