NEW YORK, April 19, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Cvent Inc. ("CVT" or
the "Company") in connection with the proposed acquisition of the
Company by private equity firm Vista Equity Partners
("Vista"). On April 18, 2016,
the Company announced it had reached a definitive agreement for
Vista to acquire all outstanding shares of CVT in a transaction
valued at approximately $1.65
billion. Under the terms of the agreement, CVT
shareholders will receive $36.00 in
cash for each CVT share they own.
WeissLaw is investigating whether CVT's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $43.00 per share, or $7.00 above the offer price. Additionally,
the Company's shares traded above the offer price as recently as
December 8, 2015 when CVT shares sold
for $37.25. Further, CVT
recently announced positive financial results for fiscal year
2015. It reported revenue of $187.7
million, representing an increase of 32%
year-over-year. Finally, in its forward looking statements,
the Company reported that it expected revenue in the first quarter
of 2016 to be in the range of $51- $51.5
million, representing growth of 24%- 25%
year-over-year.
Given these facts, WeissLaw is investigating whether CVT's Board
acted in the best interests of CVT's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own CVT shares and would like more
information about your right 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
stockinfo@weisslawllp.com.
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 or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP