SAN DIEGO, March 23, 2023 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Qualtrics International Inc. (Nasdaq: XM) breached their fiduciary duties in connection with the proposed sale of the Company to Silver Lake Management Company VI, L.L.C. (Silver Lake) and the Canada Pension Investment Board (CPIB).
On March 12, 2023, Qualtrics announced that it has entered into a definitive agreement to be acquired by Silver Lake and CPIB, in an all-cash transaction; Qualtrics stockholders would receive $18.15 per share in cash.
The investigation concerns whether the Qualtrics board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Qualtrics shares of common stock.
Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially since the stock price exceeded $55.00 after the company’s IPO in January 2021. Additionally, the Company has over $700 million in cash and only about $280 million in debt.
If you are a shareholder of Qualtrics and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471