PHILADELPHIA, Aug. 5, 2024 /PRNewswire/ — Kaskela Law LLC announces that it is investigating the recently announced proposed buyout of Thoughtworks Holding, Inc. (“Thoughtworks”) (NASDAQ: TWKS) shareholders on behalf of the company’s investors.
On August 5, 2024, Thoughtworks announced that it had agreed to be acquired by affiliates of private investment firm Apax Partners LLP at a price of $4.40 per share in cash. Following the closing of the proposed transaction, Thoughtworks’ current stockholders will be cashed out of their investment position and the company’s shares will no longer be publicly traded.
The investigation thus far has revealed that the process leading up to the announcement of the buyout appears to have significant conflicts of interest, thus making the sales process as well as the price-per-share appear unfair to the company’s shareholders. Notably, while the proposed transaction is presented to investors as “a 30% premium to Thoughtworks’ closing stock price on August 2, 2024,” the proposed $4.40 per share is significantly lower than Thoughtworks’ 52-week high price of over $7.00 per share. Further, at the time the proposed buyout of $4.40 per share was announced, numerous stock analysts were maintaining a price target for TWKS shares at or above $6.00 per share.
Thoughtworks’ shareholders who believe the buyout price is too low are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights at (484) 229 – 0750, or by clicking on the following link (or if necessary, by copying and pasting the link into your browser):
https://kaskelalaw.com/case/thoughtworks/
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLCD. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
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SOURCE Kaskela Law LLC