Ademi LLP is investigating Everbridge (Nasdaq: EVBG) for possible breaches of fiduciary duty and other violations of law in its transaction with Thoma Bravo.
In the transaction, Everbridge shareholders will receive only $28.60 per share in an all-cash transaction valuing Everbridge at approximately $1.5 billion. The transaction agreement unreasonably limits competing transactions for Everbridge by imposing a significant penalty if Everbridge accepts a competing bid. Everbridge insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Everbridge’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.