MONSEY, N.Y., April 01, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $3.21 per share in cash at which AdTheorent Holding Company, Inc. (Nasdaq: ADTH) (“AdTheorent”) has agreed to be sold to Cadent.
The sales price is equal to the closing price of AdTheorent on March 28, 2024, thus providing no premium. It is also below the price target for AdTheorent of virtually every Wall Street analyst covering the stock (source: TipRanks).
If you remain an AdTheorent 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/adtheorent/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On April 1, 2024, AdTheorent announced that it had agreed to be sold to Cadent for $3.21 per share in cash.
“We are investigating whether the AdTheorent Board of Directors acted in the best interests of AdTheorent shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to AdTheorent shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, the sales price is equal to the closing price of AdTheorent on March 28, 2024, thus providing no premium to AdTheorent shareholders. It is also below the 52-week high of $3.98 per share achieved just over two weeks ago on March 14, 2024.
Additionally, according to TipRanks, the sales price is below the price target of virtually every single Wall Street analyst covering AdTheorent: Daniel Kurnos of Benchmark ($7.00); Maria Ripps of Canaccord Genuity ($5.00); Michael Kupinski of Noble Financial ($4.75); Andrew Boone of JMP Securities ($4.00); and Laura Martin of Needham ($3.75).
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
