EngageSmart
ENGAGESMART (ESMT) SHAREHOLDER ALERT - Andrews & Springer LLC Is Investigating EngageSmart, Inc. For Potential Breaches of Fiduciary Duty
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of EngageSmart, Inc. (NYSE: ESMT) (“EngageSmart” or the “Company”) relating to the sale of the Company to private equity firm Vista Equity Partners. On October 23, 2023, the two parties announced that they reached an agreement in principle pursuant to which Vista will acquire EngageSmart in a going private merger. As a result of the merger, Inovalon shareholders are only anticipated to receive only $23.00 per share in cash in exchange for each share of EngageSmart.
Our Firm's investigation so far has discovered that the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. While the Company claims that shareholders will receive a premium for their shares, the deal consideration is less than the $30.00 per share price target set by Truist Securities on October 5, 2023, just weeks before the announcement of the merger. The deal consideration is also less than the $25.70 per share price target set by Baptista research set on October 9, 2023.
If you currently own shares of EngageSmart and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/engagesmart-merger-class-action/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.