(PFPT): Johnson Fistel Investigates Proposed Sale of Proofpoint; Is $176 a Fair Price?

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Apr 26, 2021, 09:34 ET

SAN DIEGO, April 26, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Proofpoint, Inc. (NASDAQ: PFPT) ("Proofpoint, Inc." or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Thoma Bravo.

On April 26, 2021, Proofpoint, Inc. announced that it had entered into a definitive merger agreement with Thoma Bravo. Under the terms of the deal, Proofpoint shareholders will receive $176 per share in cash.

The investigation concerns whether the Proofpoint 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 Proofpoint shares of common stock.

If you are a shareholder of Proofpoint 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 ([email protected]) 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.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP