The Ademi Firm is investigating Confluent (NASDAQ: CFLT) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with IBM.
In the transaction, Confluent shareholders will receive $31 per share in cash, representing an enterprise value of $11 billion. Confluent insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Confluent by imposing a significant penalty if Confluent accepts a competing bid. We are investigating the conduct of the Confluent board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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