SHAREHOLDER ALERT: WeissLaw LLP Investigates LogMeIn, Inc.
NEW YORK, Dec. 19, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of LogMeIn, Inc. ("LogMeIn" or the "Company") (NASDAQ: LOGM) in connection with the proposed acquisition of the Company by Francisco Partners and Elliott Management. Under the terms of the acquisition agreement, LOGM shareholders will receive $86.05 per share in cash. The deal is scheduled to close in the first quarter of 2020.
If you own LOGM shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://weisslawllp.com/logmein-inc-investigation/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
WeissLaw is investigating whether LogMeIn's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, the Company beat its guidance for the most recent quarter, including revenue of $317.2 million, up 2.5% year-over-year. Additionally, between the time that news first broke that LogMeIn was in talks to be acquired and the announcement of the acquisition agreement, insiders have been selling thousands of shares in LOGM stock.
Given these facts, WeissLaw is concerned whether the proposed acquisition agreement undervalues the Company, whether the Board ran a fair process, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP
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