SAN DIEGO, Nov. 14, 2023 (GLOBE NEWSWIRE) --
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of EngageSmart, Inc. (NYSE: ESMT) (“EngageSmart” or “the Company”) breached their fiduciary duties in connection with the proposed sale of the Company by an affiliate of Vista Equity Partners ("Vista").
You can click or copy and paste the following link to join this investigation:
https://www.johnsonfistel.com/investigations/engagesmart-inc
On October 23, 2023, EngageSmart announced that it had entered a deal to merge with Vista. Under the terms of the deal, EngageSmart shareholders will receive $23.00 per share in an all-cash offer.
General Atlantic, which is the majority shareholder with a 52% stake, will be rolling over its equity into the deal. After the deal is closed, General Atlantic will own 35% of the company.
Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one analyst's price target is currently $40.00.
The investigation concerns whether the EngageSmart 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 EngageSmart shares of common stock.
If you are a shareholder of EngageSmart 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.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. 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 http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
