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AVLR.US
id: 451

Avalara (AVLR) Vista Acquisition Case

W.D. Washington
Court
2:22-cv-01580
Case number
12 Sept 2022
Class period Start
04 Nov 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
04 November 2022
Filing date
04 November 2022
Judge
Hon. Marsha J. Pechman
Collecting participants…

Avalara Inc

Avalara, Inc., together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company offers a suite of compliance solutions that enable businesses to ...

    Ticker
    AVLR.US
    ISIN
    US05338G1067
    CIK
    1348036
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    255 South King Street, Seattle, WA, United States, 98104