NEWR SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation into New Relic, Inc. - Does $87 Per Share Represent Sufficient Consideration for NEWR Investors?

PHILADELPHIA, Sept. 7, 2023 /PRNewswire/ -- The law firm of Kaskela Law LLC announces that it is investigating the fairness of the recently proposed buyout of New Relic, Inc. ("New Relic") (NYSE: NEWR) shareholders by private equity firms Francisco Partners and TPG at $87.00 per share.

The $87.00 per share buyout price appears to undervalue New Relic's shares.  Notably, at the time the proposed buyout was negotiated and announced, several stock analysts had assigned price targets on New Relic's shares well above the $87.00 per share buyout price, including one who had assigned a $113.00 per share price target to the shares.  Additionally, Reuters recently reported that "[t]he two private equity firms offered more than $90 per share in cash to acquire New Relic" in May.

The investigation has uncovered significant potential conflicts of interest in the proposed buyout, and seeks to determine on behalf of the company's shareholders (i) whether $87.00 per share represents maximum achievable cash consideration for New Relic's shareholders, and (ii) whether New Relic's officers and/or directors breached their fiduciary duties or violated the securities laws by agreeing to sell the company to Francisco Partners and TPG at just $87.00 per share.

New Relic shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected] / [email protected]) or online at https://kaskelalaw.com/cases/new-relic/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. 

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

This notice may constitute attorney advertising in certain jurisdictions.

SOURCE Kaskela Law LLC

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