MONSEY, N.Y., March 14, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the $9.46 per share in cash at which Momentive Global Inc. (Nasdaq: MNTV) (Momentive) is being sold to an investor consortium led by private equity firm Symphony Technology Group (STG).
If you remain a Momentive shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/momentive-global/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On March 13, 2023, Momentive—the parent of Survey Monkey—announced that it has agreed to be acquired by an investor consortium led by STG for $9.46 per share in cash. The sale has been approved by the Momentive board of directors (Board).
“We are investigating whether the Momentive Board acted in the best interests of Momentive shareholders in approving the sale,” explained Joshua Fruchter, one of the law firm’s name partners. “This includes whether the price agreed upon is fair to Momentive shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, the $9.46 per share deal price is well below the 52-week high for Momentive of $18.48 per share on April 20, 2022, which indicates that STG may be taking advantage of the temporary market downturn to acquire Momentive at a bargain price.
Further, according to an analysis of Wall Street price targets for Momentive in the last 90 days published on Seeking Alpha, there is a high price target for Momentive of $13.00 per share, and an average price target of $10.42, which indicates that several Wall Street analysts think the deal price is too low.
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
