Ademi LLP is investigating Despegar (NYSE: DESP) for possible breaches of fiduciary duty and other violations of law in its transaction with Prosus.
In the transaction, Despegar stockholders will receive $19.50 per share, representing an enterprise value of approximately $1.7 billion for Despegar. Despegar insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Despegar by imposing a significant penalty if Despegar accepts a competing bid. We are investigating the conduct of Despegar’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.