The Ademi Firm is investigating Clearwater Analytics (Nasdaq: CWAN) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with a Permira and Warburg Pincus-led Investor Group.
In the transaction, Clearwater Analytics shareholders will receive $24.55 per share in a transaction valued at approximately $8.4 billion. Clearwater Analytics insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Clearwater Analytics by imposing a significant penalty if Clearwater Analytics accepts a competing bid. We are investigating the conduct of the Clearwater Analytics board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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