Ademi LLP is investigating Enfusion (NYSE: ENFN) for possible breaches of fiduciary duty and other violations of law in its transaction with Clearwater.
In the transaction, Enfusion stockholders will receive only consideration equal to $11.25 per share consisting of $5.85 per share in cash and $5.40 per share in Clearwater Class A Common Stock, subject to certain pre-closing adjustments. Enfusion insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Enfusion by imposing a significant penalty if Enfusion accepts a competing bid. We are investigating the conduct of Enfusion’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.