Kaskela Law LLC Announces Shareholder Lawsuit Against BTRS Holdings Inc. (BTRS) in Connection with Proposed Sale of the Company at $9.50 Per Share

Rhea-AI Summary

Kaskela Law LLC has initiated a shareholder lawsuit against BTRS Holdings (NASDAQ: BTRS) related to its planned acquisition by EQT X Fund. Announced on September 28, 2022, shareholders are set to receive $9.50 per share, which is lower than prior analyst price targets. The lawsuit claims Billtrust and its executives violated federal securities laws by issuing a misleading proxy statement. Shareholders seeking further information on their legal rights can contact Kaskela Law.

Positive

• Shareholder lawsuit could potentially lead to a reevaluation of the acquisition terms.

Negative

• The buyout offer of $9.50 per share is below previously assigned price targets by analysts.
• Allegations of a materially incomplete and misleading proxy statement may affect investor trust.

PHILADELPHIA, PA--(BUSINESS WIRE)-- Kaskela Law LLC announces that a shareholder lawsuit has been filed against BTRS Holdings Inc. (“Billtrust” or the “Company”) (NASDAQ: BTRS).

On September 28, 2022, Billtrust announced that it would be acquired by EQT X Fund, an affiliate of private equity firm EQT. According to the announcement, Billtrust stockholders are expected to receive only $9.50 per share for their stock. Notably, prior to the announcement of this proposed sale of the Company to EQT, several analysts had assigned a price target for BTRS shares above the buyout price.

The complaint alleges that Billtrust and certain of the Company’s senior executive officers and directors violated the federal securities laws (including by filing a materially incomplete and misleading proxy statement with the SEC) in connection with the proposed sale of the Company.

Billtrust shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/btrs-holdings-inc/ , for additional information about this action and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

This notice may constitute attorney advertising in certain jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005414/en/

KASKELA LAW LLC

D. Seamus Kaskela, Esq.

Adrienne Bell, Esq.

18 Campus Blvd., Suite 100

Newtown Square, PA 19073

(484) 229 – 0750

(888) 715 – 1740

www.kaskelalaw.com

Source: Kaskela Law LLC

FAQ

What is the current status of the shareholder lawsuit against BTRS?

Kaskela Law LLC has filed a lawsuit alleging securities law violations by BTRS Holdings related to their acquisition by EQT X Fund.

What is the buyout price offered to BTRS shareholders?

BTRS shareholders are set to receive $9.50 per share as part of the acquisition.

When was the acquisition proposal for BTRS announced?

The acquisition proposal for BTRS was announced on September 28, 2022.

Who is representing the shareholders in the lawsuit against BTRS?

Kaskela Law LLC represents the shareholders in the lawsuit against BTRS.