WILMINGTON, Del., May 08, 2023 (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 of Cvent Holding Corp. (NASDAQGM: CVT) (“Cvent” or the “Company”) relating to the sale of the Company to an affiliate of private equity funds managed by Blackstone. On March 14, 2023, the two parties announced the signing of a definitive merger agreement pursuant to which Blackstone will acquire Cvent in a merger worth $4.6 billion. As a result of the merger, Cvent shareholders are only anticipated to receive $8.50 per share in cash in exchange for each share of Cvent.
Our Firm's investigation so far has discovered that the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. For example, funds affiliated with Vista Equity, which currently owns and controls over 82% of Cvent’s stock, is participating in financing the merger through non-convertible stock while Cvent’s remaining shareholders are receiving $8.50 per share in cash with no upside in the combined company.
If you own shares of Cvent and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/cvent-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 LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, 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. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
| Contact: | Craig J. Springer, Esq. |
| cspringer@andrewsspringer.com | |
| Toll Free: 1-800-423-6013 |
