The Ademi Firm is investigating E2open (NYSE: ETWO) for possible breaches of fiduciary duty and other violations of law in its transaction with WiseTech.
In the transaction, shareholders of E2open will receive $3.30 per share in cash equating to an enterprise value of $2.1 billion. E2open public minority shareholders have no voting rights in the transaction and E2open insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for E2open by imposing a significant penalty if E2open accepts a competing bid. We are investigating the conduct of the E2open board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.