BALA CYNWYD, PA / ACCESSWIRE / February 21, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ellie Mae, Inc. ("Ellie Mae'' or "the Company") (ELLI) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Thoma Bravo, LLC (''Thoma Bravo'').
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Under the terms of the transaction, Ellie Mae shareholders will receive only $99.00 in cash for each share of Ellie Mae stock they own. The investigation concerns whether the Board of Ellie Mae breached their fiduciary duties to shareholders and whether Thoma Bravo is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many long-term holders of Ellie Mae stock. For example, Ellie Mae stock has traded at $109.91 per share and an analyst has set a $135.00 per share price target for the stock.
If you own shares of Ellie Mae stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/ellie-mae-inc-nyse-elli/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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