We are investigating the fairness of the $7.25 per share in cash at which Kaleyra, Inc. (NYSE: KLR) (“Kaleyra”) has agreed to be sold to Tata Communications (“Tata”).
If you remain a Kaleyra shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no cost by completing and submitting the form below.
Why is there an investigation?
On June 28, 2023, Kaleyra announced that it had agreed to be sold to Tata for $7.25 per share in cash.
“We are investigating whether the Kaleyra Board of Directors acted in the best interests of Kaleyra shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Kaleyra shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, on Seeking Alpha, a number of investors have opined that Kaleyra should have secured a higher price than $7.25 per share based on Kaleyra’s ownership of The Campaign Registry, which works with North American mobile operators and companies that are in the messaging business to register text messaging campaigns, and provide visibility into the source and content of such campaigns.