(BFYT) Alert: Johnson Fistel Investigates Proposed Sale of Benefytt Technologies, Inc.; Is $31.00 a Fair Price for Shareholders?
SAN DIEGO- PRNewswire —July 13, 2020
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Benefytt Technologies, Inc. (NASDAQ: BFYT) (“Benefytt” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Madison Dearborn Partners, LLC (“Madison” or the “Company”).
On July 13, 2020, Benefytt announced that it had signed a definitive merger agreement with Madison. Under the terms of the merger agreement, Benefytt stockholders will receive $31.00 per share in cash.
The investigation concerns whether the Benefytt board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Benefytt shares of common stock.
Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $75.00 price target on the stock.
If you are a shareholder of Benefytt and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.