NEW YORK, Aug. 18, 2024 (GLOBE NEWSWIRE) — Top law firm Bleichmar Fonti & Auld LLP is investigating the Thoughtworks Holdings, Inc. (“Thoughtworks” or the “Company”) (NASDAQ: TWKS) buyout by Apax Partners, L.L.P.
If you invested in Thoughtworks, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/thoughtworks-holdings-inc.
Why is Thoughtworks being Investigated by BFA Law?
Thoughtworks is controlled by funds advised by Apax Partners, L.L.P. (“Apax Partners”) through their ownership of 61.2% of the total voting power of the Company’s voting stock. Apax Partners therefore can control the outcome of Thoughtworks’s corporate actions that typically would require shareholder approval—including any merger transactions.
On August 5, 2024, Thoughtworks announced that it had entered into a merger transaction whereby Apax Partners would acquire all shares not previously owned by it for $4.40 per share (the “Merger”). Minority shareholders will have no say in the transaction, as Apax Partners has refused to subject the Merger to a vote of minority shareholders.
BFA believes that the Merger may significantly undervalue the Company. The Company’s stock price has been depressed for a significant period of time, suggesting that Apax Partners is timing the Merger to take advantage of this downswing. Indeed, at least one analyst has a price target for the Company’s stock of $6.00 per share. In light of this information, BFA is investigating whether the directors, officers, and Apax Partners may have breached their fiduciary duties to stockholders in entering into the Merger.
Shareholders are encouraged to submit your information to find out about your rights.
Submit your information here: https://www.bfalaw.com/cases-investigations/thoughtworks-holdings-inc
Next Steps:
If you currently own shares of Thoughtworks, you may have legal options and are encouraged to contact the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
To speak with an attorney for more information visit:
https://www.bfalaw.com/cases-investigations/thoughtworks-holdings-inc
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/thoughtworks-holdings-inc
Attorney advertising. Past results do not guarantee future outcomes.
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