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
stockinfo@weisslawllp.com
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 stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP