MONSEY, N.Y., July 11, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Envestnet, Inc. (NYSE: ENV) (“Envestnet”) to Bain Capital for $63.15 per share in cash. The sales price is well below Envestnet’s 52-week high of $73.04 per share, which may indicate an opportunistic buy. Additionally, the premium to Envestnet’s closing price of $61.70 per share on July 10, 2024, is only 2.4%.
If you remain an Envestnet 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/envestnet/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On July 11, 2024, Envestnet announced that it had agreed to be sold to Bain Capital for $63.15 per share in cash.
The sales price is well below Envestnet’s 52-week high of $73.04 per share, which may indicate an opportunistic buy. Additionally, the premium to Envestnet’s closing price of $61.70 per share on July 10, 2024, is only 2.4%.
“We are investigating whether he Envestnet Board of Directors acted in the best interests of Envestnet shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Envestnet 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
