Avalara (AVLR) Vista Acquisition Case

W.D. Washington

Court

2:22-cv-01580

Case number

09/12/2022

Class period Start

11/04/2022

Class period End

On October 19, 2022, Avalara (AVLR) acquisition by Vista Equity Partners Management, LLC was closed , causing Avalara’s shares to be delisted from the NYSE and thereby denying Avalara’s public owners the ability to profit from the Company’s future growth.

Investors reasons to suspect that on September 12, 2022, to convince Avalara shareholders to vote in favor of the acquisition, the Company and involved parties:
created unreasonably low financial projections to achieve support for the desired fairness opinion,
directed Avalara’s financial advisor, Goldman Sachs & Co. LLC to use the July Projections to perform the valuation analyses underlying its fairness opinion,
as a result, using the Proxy Misrepresentations to misrepresent the Board and Management’s beliefs regarding the reasonableness of the inappropriately low May and July Projections and mislead shareholders regarding the present value of their shares.

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Investment Bank,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

11/04/2022

Filing date

11/04/2022

Judge

Hon. Marsha J. Pechman

Avalara (AVLR) Vista Acquisition Case

Collecting participants…