Ademi LLP is investigating Perficient (Nasdaq: PRFT) for possible breaches of fiduciary duty and other violations of law in its going private transaction with Graham Partners.
In the transaction, Perficient stockholders will receive only $76.00 per share in an all-cash transaction that values Perficient at an enterprise value of approximately $3.0 billion. The transaction agreement unreasonably limits competing transactions for Perficient by imposing a significant penalty if Perficient accepts a competing bid. Perficient insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Perficient’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.