SAN DIEGO, June 08, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Anaplan, Inc. (“Anaplan” or the “Company”) (NYSE: PLAN) breached their fiduciary duties in connection with the proposed sale of the Company to Thoma Bravo.
On March 21, 2022, Anaplan announced that it had entered into a definitive merger agreement with Thoma Bravo. Under the terms of the definitive merger agreement, Thoma Bravo would acquire all of the issued and outstanding shares of Anaplan common stock for $66 per share in cash.
On June 6, 2022, Anaplan accepted an amended merger agreement that would give stockholders only $63.75 a share in cash, instead of the original purchase price of $66 a share in cash. Upon completion of the transaction, Anaplan will become a privately held company.
The investigation concerns whether the Anaplan board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Anaplan shares of common stock.
Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the stock traded at over $80.00 a share in 2021.
If you are a shareholder of Anaplan and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can click or copy and paste the following link: https://www.cognitoforms.com/JohnsonFistel/AnaplanInc.
There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
