PHILADELPHIA, Feb. 17, 2020 /PRNewswire/ -- Kaskela Law LLC
announces that a shareholder class action lawsuit has been filed
against LogMeIn, Inc. ("LogMeIn" or the "Company") (NASDAQ:LOGM) in
connection with the proposed merger (the "Proposed Transaction")
between LogMeIn, Francisco Partners and Evergreen Coast Capital
Corporation ("Evergreen"), the private equity affiliate of Elliot
Management Corporation.
In connection with the Proposed Transaction, on December 17, 2019, LogMeIn announced that it had
entered into an agreement to be acquired at a price of $86.05 per share in cash. According to the
complaint, on January 17, 2020, "in
order to convince LogMeIn shareholders to vote in favor of the
Proposed Transaction," LogMeIn's officers and directors "authorized
the filing of a materially incomplete and misleading" proxy
statement with the U.S. Securities and Exchange Commission ("SEC"),
in violation of the securities laws. The complaint alleges
that defendants "failed to disclose certain material information
that is necessary for shareholders to properly assess the fairness
of the Proposed Transaction, thereby violating SEC rules and
regulations and rendering certain statements in the Proxy
materially incomplete and misleading."
LogMeIn stockholders may, no later than April 13, 2020, seek to be appointed as a lead
plaintiff representative in the action.
LogMeIn shareholders are encouraged to contact Kaskela Law LLC
(David Seamus Kaskela, Esq.) at
(484) 258 – 1585, or online at
http://kaskelalaw.com/case/logmein-inc/, for
additional information about this action and their legal rights and
options.
Kaskela Law LLC exclusively represents investors in securities
fraud, corporate governance, and merger & acquisition
litigation. For additional information about Kaskela Law LLC
please visit www.kaskelalaw.com.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/kaskela-law-llc-announces-shareholder-class-action-lawsuit-against-logmein-inc-logm-and-encourages-investors-to-contact-the-firm-301006218.html
SOURCE Kaskela Law LLC