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PWSC INVESTIGATION NOTIFICATION: BFA Law Notifies PowerSchool (NYSE:PWSC) Investors that it is Investigating the Potential Acquisition, and Urges Shareholders to Contact Us
PWSCPowerSchool(PWSC) Newsfilter·2024-07-01 12:13

Core Viewpoint - PowerSchool Holdings, Inc. is under investigation by Bleichmar Fonti & Auld LLP regarding its acquisition by Bain Capital, with concerns about the fairness of the merger price offered to shareholders [1][6]. Company Overview - PowerSchool announced a merger agreement with Bain Capital on June 7, 2024, where shareholders will receive 22.80pershareincash[2].Thecontrollingshareholders,VistaEquityPartnersandOnexPartnersManagerLP,holdover7022.80 per share in cash [2]. - The controlling shareholders, Vista Equity Partners and Onex Partners Manager LP, hold over 70% of PowerSchool's stock and have approved the merger without input from minority shareholders [2][9]. Legal Investigation - BFA Law is investigating potential breaches of fiduciary duties by Vista, Onex, and PowerSchool's board in approving what may be an unfair merger transaction [6]. - The merger price of 22.80 per share is significantly lower than analyst price targets, which reach as high as $31, raising questions about the fairness of the offer [9]. Shareholder Rights - Shareholders of PowerSchool are encouraged to submit their information to learn about their rights and potential legal options regarding the merger [3][4]. - BFA Law is offering representation on a contingency fee basis, meaning shareholders will not incur costs unless the case is successful [10].