Ademi LLP is investigating Pluralsight, Inc. (Nasdaq:PS) for possible breaches of fiduciary duty and other violations of the law in its transaction with Vista.
Ademi LLP alleges Pluralsight’s financial outlook is improving and yet Pluralsight shareholders will receive only $20.26 per share in an all-cash transaction valued at approximately $3.5 billion. The merger agreement unreasonably limits competing bids for Pluralsight by prohibiting solicitation of further bids, and imposing a termination penalty if Pluralsight accepts a superior bid. Pluralsight insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Pluralsight’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 Pluralsight.