We are investigating the fairness of the price of $5.50 per share for which Matterport, Inc. (Nasdaq: MTTR) (“Matterport”) has agreed to be sold to CoStar Group (“CoStar”).
Under the terms of the deal, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar common stock for each share of Matterport common stock.
If you remain an MTTR 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 April 22, 2024, Matterport announced that it had agreed to be sold to CoStar for $5.50 per share. Under the terms of the deal, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar common stock for each share of Matterport common stock.
“We are investigating whether the Matterport Board of Directors acted in the best interests of Matterport shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Matterport shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
In particular, the deal price may not adequately take into account Matterport’s position as the leading spatial data company focused on digitizing and indexing physical spaces.