MONSEY, N.Y., Dec. 20, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the members of the Special Committee of the Board of Directors of KnowBe4, Inc. (Nasdaq: KNBE) (“KNBE”) that recommended the sale of KNBE to Vista Equity Partners (“Vista”) for $24.90 per share in cash were truly independent and disinterested as claimed in a recent SEC filing.
If you remain a KNBE shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/knowbe4-inc/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On October 12, 2022, KNBE announced that it had agreed to be acquired by Vista for $24.90 per share in cash. The agreement was approved by the KNBE Board of Directors (“Board”) upon the recommendation of a Special Committee of the Board.
A recent SEC filing indicates that several of KNBE’s largest stockholders are “rolling over” a portion of their KNBE shares into ownership interests in the Vista affiliate that is acquiring KNBE.
As such, our investigation is focused on whether the members of the Special Committee that recommended the sale were independent of the following existing KNBE stockholders “rolling over” their investments:
- Vista (which presently owns 12.4% of KNBE’s Class A shares);
- Elephant Funds (which presently owns 12.9% of KNBE’s Class A shares, and 44.9% of KNBE’s Class B shares); and
- Kohlberg Kravis Roberts & Co. L.P (which presently owns 9.1% of KNBE’s Class A shares, and 31.6% of KNBE’s Class B shares).
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, 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
