MONSEY, N.Y., Jan. 09, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Duck Creek Technologies, Inc. (Nasdaq: DCT) (“Duck Creek”) acted in the best interests of Duck Creek shareholders in approving the sale of Duck Creek to Vista Equity Partners (“Vista”) for $19.00 per share in cash.
If you remain a Duck Creek shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/duck-creek-technologies/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 9, 2023, Duck Creek announced that it had agreed to be acquired by Vista for $19.00 per share in cash. The agreement has been approved by the Duck Creek board of directors (“Board”).
“Our investigation concerns whether Duck Creek’s Board acted in the best interests of Duck Creek shareholders in approving the sale,” explained Joshua Fruchter, one of the firm’s name partners. “This includes whether the acquisition price adequately compensates Duck Creek shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, according to an analysis of Wall Street price targets for DCT in the last 90 days published on Seeking Alpha, there is a high price target for DCT of $22.00 per share, which is above the deal price.
The deal price is also well below the 52-week high of $30.32 per share, which suggests that Vista is taking advantage of the temporary market downturn to acquire Duck Creek at an unfair price.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
