SAN DIEGO, March 28, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Cvent Holding Corp. (NASDAQ: CVT) ("Cvent") breached their fiduciary duties in connection with the proposed sale of the Company to an affiliate of private equity funds managed by Blackstone ("Blackstone").
On March 14, 2023, Cvent announced that it has entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone, in an all-cash transaction; Cvent stockholders would receive $8.50 per share in cash.
The investigation concerns whether the Cvent 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 Cvent shares of common stock.
Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the company was valued at $13.00 in January of 2021.
If you are a shareholder of Cvent 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.johnsonfistel.com/investigations/cvent-holding-corp
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
