LogMeIn, Inc.

Practice Area: 
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating LogMeIn, Inc. (NASDAQ: LOGM) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of LogMeIn to affiliates of Francisco Partners and Evergreen Coast Capital.

Ademi & O’Reilly, LLP alleges LogMeIn’s financial outlook is improving and yet shareholders will receive only $86.05 per share. The all-cash transaction values LogMeIn at an aggregate equity valuation of approximately $4.3 billion. The merger agreement unreasonably limits competing bids for LogMeIn by prohibiting solicitation of further bids, and imposing a termination penalty if LogMeIn accepts a superior bid. LogMeIn insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of LogMeIn’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LogMeIn.