MONSEY, N.Y., July 01, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the proposed sale of HashiCorp, Inc. (Nasdaq: HCP) (“Hashi”) to IBM for $35.00 per share in cash.
If you remain a Hashi 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/hashicorp/
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 24, 2024, IBM announced that it had reached an agreement to acquire Hashi for $35.00 per share in cash.
On June 13, 2024, Hashi file a proxy with the SEC soliciting Hashi shareholders to approve the proposed sale to IBM in a vote to be held on July 15, 2024. The proxy disclosed that negotiations with IBM were managed by an M&A Committee comprised of three Hashi directors, including Glenn Solomon. Solomon is a Managing Partner with Noble Capital, which is the largest holder of Hashi common stock as of April 30, 2024, and thus potentially has interests that differ from those of other Hashi common stockholders.
“We are investigating whether the Hashi Board of Directors acted in the best interests of Hashi shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Hashi shareholders, and whether all material information regarding the transaction has been fully disclosed.”
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
