WILMINGTON, Del., Jan. 27, 2020 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announces that a class action lawsuit has been filed by another law firm on behalf of shareholders of LogMeIn, Inc. (“LogMeIn” or the “Company”) for possible corporate misconduct and breach of fiduciary duty.
A copy of the complaint is available from the Court or from Andrews & Springer LLC. If you currently own shares of LogMeIn and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/logmein-class-action-investigation/ or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On December 17, 2019, LogMeIn and private equity firms Francisco Partners and Evergreen Coast Capital Corporation (“Evergreen”), an affiliate of Elliott Management Corporation, announced the signing of a definitive merger agreement pursuant to which Francisco Partners and Evergreen will acquire LogMeIn in a merger worth $4.3 billion (the “Merger). As a result of the Merger, LogMeIn shareholders are only anticipated to receive $86.05 per share in cash in exchange for each share of LogMeIn.
A LogMeIn shareholder represented by another law firm has filed a class action complaint against LogMeIn for federal securities violations. The complaint was filed in the United States District Court, District of Delaware, Case No. 20-cv-00098-UNA, Stein v. LogMeIn, Inc., et al.
According to the lawsuit, which was filed on January 22, 2020, defendants filed a proxy statement (the “Proxy”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Merger.
The Proxy omits material information with respect to the Merger, which renders the Proxy false and misleading. Accordingly, plaintiff seeks that the Merger should be enjoined until defendants disclose more information to stockholders.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq.
Toll Free: 1-800-423-6013