Ping Identity Holding Corp.

Practice Area: 
Stock Symbol: 
Case Status: 

Ademi LLP is investigating Ping Identity (NASDAQ: COWN) for possible breaches of fiduciary duty and other violations of law in its transaction with Thoma Bravo.

Ademi LLP alleges Ping Identity’s financial outlook and prospects are excellent and yet Ping Identity holders will receive only $28.50 per share in an all-cash transaction valued at an Enterprise Value of approximately $2.8 billion.. The transaction agreement unreasonably limits competing bids for Ping Identity by imposing a significant penalty if Ping Identity accepts a superior bid. Ping Identity insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Ping Identity’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Ping Identity.