MONSEY, N.Y., May 23, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $5.50 per share for which Matterport, Inc. (Nasdaq: MTTR) (“Matterport”) has agreed to be sold to CoStar Group (“CoStar”).
Under the terms of the deal, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar common stock for each share of Matterport common stock.
If you remain an MTTR shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/matterport/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On April 22, 2024, Matterport announced that it had agreed to be sold to CoStar for $5.50 per share. Under the terms of the deal, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar common stock for each share of Matterport common stock.
“We are investigating whether the Matterport Board of Directors acted in the best interests of Matterport shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Matterport shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
In particular, the deal price may not adequately take into account Matterport’s position as the leading spatial data company focused on digitizing and indexing physical spaces.
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
