Shareholder Rights Firm Julie & Holleman LLP Investigates Proposed Buyout of New Relic and Encourages Investors to Contact the Firm

NEW YORK, Oct. 11, 2023 /PRNewswire/ -- Julie & Holleman LLP, a preeminent law firm focused on shareholder rights, is investigating the proposed $6.5 billion acquisition of New Relic, Inc. (NYSE: NEWR) by investment firms Francisco Partners and TPG. The firm is concerned about the adequacy of the $87 per share price as well as potential conflicts of interest.

For a no-cost consult and to learn more about our investigation, please click here or visit: https://julieholleman.com/?p=3160

Founded in 2007, New Relic has emerged as a leading provider of "observability" services, allowing companies to develop key insights into the performance of their websites and applications. The company's founder is Lewis Cirne, who remains the company's executive chairman and largest shareholder.

On July 31, 2023, New Relic announced it had entered into a merger agreement with Francisco Partners and TPG, who agreed to buy the company for $87 per share. This is far less than Wall Street analyst price targets exceeding $100, and also less than what other companies had offered during the sales process.

Julie & Holleman is concerned not only about the inadequate price, but also about potential conflicts of interest. Certain shareholders may have interest that conflict with shareholders at large, and Mr. Cirne has agreed to "roll over" a portion of his shares, which indicates his belief that the company may be worth more.

If you would like more information about Julie & Holleman's investigation, or about the acquisition in general, please contact W. Scott Holleman by email at [email protected] or by telephone at (929) 415-1020. You may also visit the firm's website by clicking here.

Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit www.julieholleman.com. This notice may constitute attorney advertising.

CONTACT INFORMATION

Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com

SOURCE Julie & Holleman LLP