SHAREHOLDER ALERT: WeissLaw LLP Investigates ConvergeOne Holdings Inc.0 Views
NEW YORK, NY / ACCESSWIRE / November 9, 2018 / WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of ConvergeOne Holdings Inc. ("CVON" or the "Company") (NASDAQ: CVON) in connection with the proposed acquisition of the Company by affiliates of CVC Fund VII. Under the terms of the acquisition agreement, shareholders will receive $12.50 in cash for each CVON share they own.
If you own CVON shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
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WeissLaw is investigating whether CVON's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the acquisition announcement, the Company announced positive financial results for the third quarter of 2018. It reported total revenue of $404.8 million, representing a remarkable increase of 64.9% year-over-year. The Company also announced similarly impressive results in adjusted EBITDA per credit agreement, reporting annual growth of 52.6%.
Moreover, the deal is a strategic transaction which the affiliates anticipate to benefit from by leveraging CVON's growth potential, and its optimizing cloud adoption and digital transformation tailwinds.
Given these facts, WeissLaw is investigating whether CVON's Board acted in the best interests of CVON's public shareholders to maximize shareholder value prior to entering into the agreement. If you own CVON shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
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