SAN DIEGO, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Avalara, Inc. (NYSE: AVLR) breached their fiduciary duties in connection with the proposed sale of the Company to Vista Equity Partners (“Vista”).
On August 8, 2022, Avalara announced that it has entered into a definitive agreement to be acquired by Vista, in an all-cash transaction; Avalara stockholders would receive $93.50 per share in cash. Upon completion of the transaction, Avalara would become a privately held company.
The investigation concerns whether the Avalara board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Avalara shares of common stock.
Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given next year's revenue projections. The 52-week high for Avalara was $191.67.
If you are a shareholder of Avalara and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can click or copy and paste the following link: https://www.cognitoforms.com/JohnsonFistel/AvalaraInc
There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
