(FOCS): Johnson Fistel Investigates Proposed Sale of Focus Financial Partners Corp; Is $53.00 a Fair Price?
San Diego – GlobeNewswire—March 17, 2023
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Clayton, Dubilier & Rice.
On February 27, 2023, Focus announced that it has entered a deal with Clayton Dubilier & Rice. Under the terms of this agreement, shareholders will receive $53.00 per share in an all-cash offer.
The investigation concerns whether the Focus 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 Focus shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst had a $55.00 price target on the stock. Additionally, Focus was once valued at over $67 a share in late 2020, and has had steadily increasing revenue YOY since 2019.
If you are a shareholder of Focus 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@example.com) at 619-814-4471. If emailing, please include a phone number.
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.
Johnson Fistel, LLP
Jim Baker, 619-814-4471