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FORG.US
id: 403
On October 11, 2022, ForgeRock (FORG) announced a deal to be acquired by the private equity firm Thoma Bravo for $23.23 a share (about $2.3 billion).
Despite the price being a 53% premium to the stock’s close on October 10, 2022, it represents a discount to the company’s IPO at $25 a share (about $175 million).
Given all the facts, the current shareholders and participants in the IPO have every reason to suspect that the Company and its Leaders could breach their fiduciary duties in conducting this deal.
Case Status
Attorney Investigation
Alleged Offence
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Investment Bank,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11 October 2022