MONTEVERDE & ASSOCIATES PC HAS FILED A CLASS ACTION LAWSUIT ON BEHALF OF SHAREHOLDERS OF USERTESTING, INC. IN THE NORTHERN DISTRICT OF CALIFORNIA
NEW YORK, March 23, 2023 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Northern District of California, Case No. 3:23-cv-01320, on behalf of former public common shareholders of UserTesting, Inc. ("UserTesting" or the "Company") who held UserTesting securities as of the record date, December 2, 2022 (the "Class Period"), and who were harmed by UserTesting and its directors and officers' alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), in connection with the acquisition of UserTesting by affiliates of Thoma Bravo, L.P. and Sunstone Partners Management, LLC (the "Acquisition").
Under the terms of the Acquisition, each share of UserTesting common stock owned was converted into the right to receive $7.50 in cash per share (the "Acquisition Consideration"). The Complaint alleges that the Acquisition Consideration was inadequate and that the Definitive Proxy Statement issued by the Company with the U.S. Securities and Exchange Commission on December 6, 2022, provided stockholders with materially incomplete and misleading information in violation of Sections 14(a) and 20(a) of the Exchange Act. The Acquisition was completed on January 12, 2023.
Mr. Juan Monteverde is available to personally discuss this case with you, and if you wish to serve as lead plaintiff, you must move the Court no later than May 22, 2023. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
Click here for more information: https://www.monteverdelaw.com/case/usertesting-inc. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars for shareholders and is committed to protecting investors and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating mergers and acquisitions and securities class actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, and 2022, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2022 Top Rated Lawyer. Our firm's recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, over the years the firm has recovered or secured over a dozen cash common funds for shareholders in merger and acquisition class action cases.
Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341
Attorney Advertising. (C) 2023 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
SOURCE Monteverde & Associates PC
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