NEW
YORK, July 24, 2024 /PRNewswire/ -- Shareholder
rights firm Julie & Holleman LLP is investigating the proposed
$5.6 billion acquisition of
PowerSchool Holdings, Inc. (NYSE: PWSC), by private equity firm
Bain Capital. Julie & Holleman has already uncovered several
conflicts of interest, and recent developments show the deal
undervalues the company.
For a free, no-risk consultation, please visit
https://julieholleman.com/powerschool-holdings-inc/, or contact
firm partner Scott Holleman by email
at scott@julieholleman.com.
PowerSchool is a leading provider of cloud-based software for
K-12 education in North America.
The company's two largest shareholders are private equity firms
Vista Equity Partners and Onex Partners, who together own a
majority of PowerSchool's stock and voting power.
On June 7, 2024, PowerSchool
announced that it had agreed to be acquired by Bain for
$22.80 per share in cash. On
July 23, 2024, the company filed a
proxy statement and related materials, which show that PowerSchool
could be worth as much as $31.50 per
share.
Julie & Holleman, whose attorneys have helped secure
hundreds of millions of dollars for shareholders, is concerned
about both conflicts of interest and the inadequate deal price.
PowerSchool's biggest shareholders, Vista and Onex, are "rolling
over" shares into the post-close company while public shareholders
are being cashed out. Moreover, the $22.80 per share deal price is less than what the
company's stock was trading at earlier this year, less than the
average Wall Street analyst stock price target of $24.57 per share, well below the high-end price
target of $30 per share, and far
below the $31.50 per share high end
of the company's financial advisors' financial analyses.
Please visit https://julieholleman.com/powerschool-holdings-inc/
or contact partner Scott Holleman by
email at scott@julieholleman.com or by telephone at (929) 415-1020
for more information.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions,
and corporate investigations. The firm's attorneys litigate in
state and federal courts across the nation and have helped secure
hundreds of millions of dollars for aggrieved companies and their
shareholders. For more information about the firm, please visit
https://www.julieholleman.com/. This notice may constitute attorney
advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
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SOURCE Julie & Holleman LLP