MONSEY, New York, July 12, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the $7.25 per share in cash at which Kaleyra, Inc. (NYSE: KLR) (“Kaleyra”) has agreed to be sold to Tata Communications (“Tata”).
If you remain a Kaleyra shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/kaleyra/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On June 28, 2023, Kaleyra announced that it had agreed to be sold to Tata for $7.25 per share in cash.
“We are investigating whether the Kaleyra Board of Directors acted in the best interests of Kaleyra shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Kaleyra shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, on Seeking Alpha, a number of investors have opined that Kaleyra should have secured a higher price than $7.25 per share based on Kaleyra’s ownership of The Campaign Registry, which works with North American mobile operators and companies that are in the messaging business to register text messaging campaigns, and provide visibility into the source and content of such campaigns.
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
