NEW YORK, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Inovalon Holdings, Inc. (NASDAQ: INOV) breached their fiduciary duties or violated the federal securities laws in connection with the company’s sale to a consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and Chief Executive Office Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon (the “Consortium”).
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On August 19, 2021, Inovalon announced that it had entered into an agreement to be acquired by the Consortium in a deal valued at approximately $7.3 billion. Pursuant to the merger agreement, Inovalon stockholders will receive $41 in cash for each share of Inovalon common stock owned. The deal is scheduled to close in either late 2021 or early 2022.
On September 17, 2021, Inovalon released a Preliminary Proxy Statement recommending that stockholders vote in favor of the going-private transaction. The stockholder vote date is yet to be determined.
Bragar Eagel & Squire is concerned that Inovalon’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Inovalon’s stockholders.
If you own shares of Inovalon and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com
