We are investigating the fairness of the proposed sale of Envestnet, Inc. (NYSE: ENV) (“Envestnet”) to Bain Capital for $63.15 per share in cash. The sales price is well below Envestnet’s 52-week high of $73.04 per share, which may indicate an opportunistic buy. Additionally, the premium to Envestnet’s closing price of $61.70 per share on July 10, 2024, is only 2.4%.
If you remain an Envestnet shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On July 11, 2024, Envestnet announced that it had agreed to be sold to Bain Capital for $63.15 per share in cash.
The sales price is well below Envestnet’s 52-week high of $73.04 per share, which may indicate an opportunistic buy. Additionally, the premium to Envestnet’s closing price of $61.70 per share on July 10, 2024, is only 2.4%.
“We are investigating whether the Envestnet Board of Directors acted in the best interests of Envestnet shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Envestnet shareholders, and whether all material information regarding the transaction has been fully disclosed.”