SAN DIEGO, April 18, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Cvent, Inc. (NYSE: CVT) breached their fiduciary duties in connection with the proposed sale of the Company to Vista Equity Partners.
Cvent provides a cloud-based enterprise event management platform with solutions for corporate events and meetings in North America and internationally.
On April 18, 2016, Cvent announced it had signed a definitive merger agreement with Vista. Under the terms of the agreement, Vista will acquire 100 percent of the outstanding shares of Cvent common stock; Cvent stockholders will receive $36.00 in cash per share.
The investigation concerns whether the Cvent board failed to satisfy their 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. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $43.00 price target on the stock.
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 or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, 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 http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
SOURCE Johnson & Weaver, LLP