We are investigating whether the directors of Houghton Mifflin Harcourt Company (Nasdaq: HMHC) (“HMHC”) acted in the best interests of HMHC shareholders in approving the sale of HMHC to Veritas Capital (“Veritas”) for $21.00 per share in cash through a tender offer.
If you remain a HMHC shareholder and have questions about your legal rights, please contact us via the form below to discuss your options at no charge.
Why is there an investigation?
On February 22, 2022, HMHC announced an agreement for Veritas to purchase all of the outstanding shares of HMHC for $21.00 per share in cash through a tender offer. The agreement has been approved by the HMHC board.
Our investigation concerns whether HMHC’s board acted in the best interests of HMHC shareholders in approving the sale to Veritas, including whether the acquisition price adequately compensates HMHC shareholders, and whether all information regarding approval of the transaction has been fully disclosed.
In particular, according to a discounted cash flow analysis of HMHC by the Simply Wall Street research firm, the fair value of HMHC is $46.17 per share.