NEW ORLEANS, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until March 4, 2024 to file lead plaintiff applications in a securities class action lawsuit against Focus Financial Partners Inc. (NasdaqGS: FOCS), if they (1) sold shares of Focus Financial common stock from February 27, 2023 through the closing of the “take-private” acquisition of Focus Financial by Clayton, Dubilier & Rice, LLC (“CD&R”) on August 31, 2023 (the “Merger”), including investors who sold their shares of Focus Financial common stock into the Merger, and (2) all persons or entities that held Focus Financial common stock on the June 9, 2023 record date for the Merger who were entitled to vote on the Merger. This action is pending in the United States District Court for the District of Delaware.
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Focus Financial investors should visit us at https://claimsfiler.com/cases/nasdaq-focs/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Focus Financial and certain of its executives are charged with failing to disclose material information leading up to the Merger by, among other things, omitting that they failed to adequately solicit potential strategic acquirors and misrepresenting the nature and scope of the negotiating process, violating federal securities laws.
On February 27, 2023, the Company announced it had entered into a merger agreement to be acquired by private equity firm, Clayton, Dubilier & Rice, LLC for $53.00 per share (the “Merger”). The stockholder vote on the Merger was held on July 14, 2023, and the transaction was completed on August 31, 2023.
The case is AltShares Event-Driven ETF v. Focus Financial Partners, Inc., No. 23-cv-01466.
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