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USER.US
id: 639, Created by Stan Vick Chase, Scout
Join UserTesting (USER) Unfair M&A Case to Fight Losses Back
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
On January 10, 2023, UserTesting held a special meeting of its shareholders in connection with the Acquisition by Thoma Bravo, a leading software investment firm, and Sunstone Partners for $7.50 per share, in an all-cash transaction valued at approximately $1.3 billion.
USER Investors suspect that Proxy Statement omitted material information with respect to the Proposed Transaction, which rendered the Proxy Statement false and misleading. Specifically, the Proxy contained the following materially false and/or misleading statements:
- that the Board “believed that the $7.50 per share in cash payable in the [Acquisition] was more favorable to [UserTesting] stockholders on a risk-adjusted basis than the potential value that might result from other alternatives reasonably available";
- the present value per share of UserTesting common stock calculated by Morgan Stanley, UserTesting’s financial advisor, using the unreasonably low October Financial Forecast under a Public Trading Comparables Analysis, namely “an estimated value per share of UserTesting common stock of $3.80 to $6.46”;
- the present value per share of UserTesting common stock calculated by Morgan Stanley using the unreasonably low October Financial Forecast under a Discounted Equity Value Analysis, namely “$4.08 – 7.51”;
- the present value per share of UserTesting common stock calculated by Morgan Stanley using the unreasonably low October Financial Forecast under a Precedent Transactions Multiples Analysis, namely “$6.92 – 10.77”;
- the present value per share of UserTesting common stock calculated by Morgan Stanley using the unreasonably low October Financial Forecast under a Discounted Cash Flow Analysis, namely “$3.59 to $5.17”.
Considering all facts, Investors may suspect that UserTesting misled shareholders to vote to support the Acquisition in reliance on the Proxy Misrepresentations.
Alleged Offence
Misleading Statements,
Malpractice,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder,
Investment Bank,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10 January 2023
Case number
23-CV-01320
Filing date
21 March 2023
Class period Start
27 October 2022
Class period End
21 March 2023
Lead Plaintiff Deadline
22 May 2023
Court
Northern District of California