We are investigating the fairness of the proposed sale of European Wax Center (Nasdaq: EWCZ) (“EWCZ”) to General Atlantic for $5.80 per share in cash.
General Atlantic already owns 42% of EWCZ’s outstanding common stock. Accordingly, the sale was approved upon the recommendation of a purportedly independent special committee of the EWCZ board of directors.
Notably, the sale price is well below EWCZ’s 52-week high of $7.60 per share, which suggests an opportunistic purchase. The sale price is also below the price target of $6.00 per share set by Scot Ciccarelli of Truist Financial before the transaction was announced.
If you remain an EWCZ shareholder and have concerns about 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.
“We are investigating whether the Special Committee acted in the best interests of EWCZ shareholders in recommending the merger,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the members of the Special Committee were truly independent, whether the sale price is fair to EWCZ shareholders, and whether all material information regarding the transaction has been fully disclosed.