BUYOUT INVESTIGATION: Kaskela Law LLC Announces Investigation of New Relic (NYSE: NEWR) Buyout: Does $87.00 Per Share Represent Sufficient Cash Out Payment for NEWR Shares?

Rhea-AI Summary

Kaskela Law is investigating the fairness of the buyout agreement for New Relic, Inc. stockholders by private equity firms at $87.00 per share. The buyout price appears to undervalue the shares and analysts had assigned higher price targets. The investigation aims to determine if $87.00 per share is the maximum achievable cash consideration for shareholders and if fiduciary duties were breached.

PHILADELPHIA--(BUSINESS WIRE)-- Kaskela Law LLC announces that it is investigating the fairness of the recently proposed buyout agreement of New Relic, Inc. (“New Relic”) (NYSE: NEWR) stockholders by private equity firms Francisco Partners and TPG at $87.00 per share.

The $87.00 per share buyout price appears to undervalue New Relic’s shares. Notably, at the time the proposed buyout was negotiated and announced, several stock analysts had assigned price targets on New Relic’s shares well above the $87.00 per share buyout price, including one who had assigned a $113.00 per share price target to the shares. Additionally, Reuters recently reported that “[t]he two private equity firms offered more than $90 per share in cash to acquire New Relic” in May.

The investigation seeks to determine whether $87.00 per share represents maximum achievable cash consideration for New Relic’s shareholders, and whether New Relic’s officers and/or directors breached their fiduciary duties or violated the securities laws by agreeing to sell the company to Francisco Partners and TPG at $87.00 per share.

New Relic stockholders 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/new-relic/ , for additional information about this investigation and their legal rights and options with respect this matter.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. 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/20230822910053/en/

KASKELA LAW LLC

D. Seamus Kaskela, Esq.

Adrienne Bell, Esq.

18 Campus Blvd., Suite 100

Newtown Square, PA 19073

(888) 715 – 1740

(484) 229 – 0750

www.kaskelalaw.com

Source: Kaskela Law LLC