The Ademi Firm is investigating Verint (NASDAQ: VRNT) for possible breaches of fiduciary duty and other violations of law in its transaction with Thomas Bravo.
Shareholders of Verint will receive $20.50 per share in cash. Certain shareholders and board members representing approximately 14.5% of Verint’s voting power have agreed to vote in favor of the transaction.
Verint insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Verint by imposing a significant penalty if Verint accepts a competing bid. We are investigating the conduct of the Verint board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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