NEW YORK, Jan. 15, 2021 /PRNewswire/ --
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ProSight Global, Inc. (NYSE: PROS) ("PROS" or "the Company") in connection with the proposed acquisition of the Company by TowerBrook Capital Partners L.P. ("TowerBrook"), an international investment management firm, and Further Global Capital Management ("Further Global"), a private equity firm focused on the financial services industry. Under the terms of the merger agreement, affiliates of TowerBrook and Further Global will acquire all outstanding shares of common stock of PROS for $12.85 per share in cash. The proposed transaction is valued at approximately $586,000,000.
If you own PROS shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether PROS's board acted in the best interest of PROS's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to PROS public shareholders. Notably, at least one analyst set a price target for the Company of $18.00, over $7.00 above the per share merger consideration.
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