SAN DIEGO, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of ForgeRock, Inc. (NYSE: FORG) breached their fiduciary duties in connection with the proposed sale of the Company to Thoma Bravo.
On October 11, 2022, ForgeRock announced it will be acquired by private equity firm Thoma Bravo in a $2.3 billion all-cash transaction. Under the agreement terms, Thoma Bravo will acquire the company for $23.25 per share.
You can click or copy and paste the following link to join this investigation:
https://www.johnsonfistel.com/investigations/forgerock-inc
The investigation concerns whether the ForgeRock 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 ForgeRock shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst had a $26.00 price target on the stock. Additionally, ForgeRock just went public in 2021 at $25.00 a share and since going public the stock’s high was $47.15.
If you are a shareholder of ForgeRock 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.
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
