MONSEY, N.Y., April 08, 2024 (GLOBE NEWSWIRE) — The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $30.00 per share in cash for which Model N, Inc. (NYSE: MODN) (“MODN”) has agreed to be sold to Vista Equity Partners (“Vista”). The sales price is below the price targets for MODN of at least five Wall Street analysts (source: TipRanks).
If you remain an MODN shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On April 8, 2024, MODN announced that it had agreed to be sold to Vista for $30.00 per share in cash.
“We are investigating whether the MODN Board of Directors acted in the best interests of MODN shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to MODN shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $30.00 per share is below the price target of:
- $45.00 per share of Adam Hotchkiss at Goldman Sachs
- $40.00 per share of Craig Hettenbach at Morgan Stanley
- $40.00 per share of Terry Tillman at Truist Financial
- $37.50 per share of Jackson Ader at KeyBanc
- $31.00 per share of Ryan MacDonald at Needham
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
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