SAN DIEGO, Aug. 28, 2024 (GLOBE NEWSWIRE) — Johnson Fistel, LLP, a leading stockholder rights law firm, announced today that it has initiated an investigation into the board members of Envestnet, Inc. (NYSE: ENV) concerning potential breaches of fiduciary duties related to the proposed sale of the Company to private equity firm Bain Capital.
On July 11, 2024, Envestnet informed the public that it has agreed to a deal with Bain Capital, in which stockholders will receive $63.15 per share in an all-cash offer. Upon completion of the deal, Envestnet will be a private Company.
Johnson Fistel’s investigation focuses on whether Envestnet’s board failed to satisfy its duties to the Company’s stockholders, including whether the board sufficiently pursued alternatives to the acquisition, and whether the board secured the best possible price for Envestnet’s shares. It is particularly pertinent to note analyst projections for earnings and revenue growth, and Envestnet shares have historically traded at a much higher price.
Stockholders of Envestnet are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. You can click or copy and paste the following link to join this investigation:
https://www.cognitoforms.com/JohnsonFistel/EnvestnetInc
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Johnson Fistel, LLP
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James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
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