Large Firm Sophistication – Small Firm Values

Andre Springer

LogMeIn, Inc.

LOGMEIN (LOGM) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of LogMeIn, Inc.   

(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 (the “Board”) of LogMeIn, Inc. (NASDAQGS: LOGM) (“LogMeIn” or the “Company”) relating to the sale of the Company to private equity firms Francisco Partners and Evergreen Coast Capital Corporation (“Evergreen”). On December 17, 2019, LogMeIn and private equity firms Francisco Partners and Evergreen, an affiliate of Elliott Management Corporation, announced the signing of a definitive merger agreement pursuant to which Francisco Partners and Evergreen will acquire LogMeIn in a merger worth $4.3 billion (the “Merger). As a result of the Merger, LogMeIn shareholders are only anticipated to receive $86.05 per share in cash in exchange for each share of LogMeIn.

Our investigation so far has revealed that the consideration LogMeIn’s shareholders are expected to receive is grossly inadequate. While the Company claims that shareholders will receive a premium for their shares, the $86.05 per share deal consideration is less than the Company’s $86.15 per share closing price on December 14, 2019, the last day of trading before the merger was announced. The $86.05 per share consideration is also considerably less than the $91.00 per share price target that was set by an analyst at Berenberg Capital Markets in October 2019, just two months before the merger was announced.