NEW YORK, July 17, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Benefytt Technologies, Inc. (“BFYT” or the “Company”) (NASDAQ: BFYT) in connection with the proposed acquisition of the Company by funds affiliated with Madison Dearborn Partners, LLC (the “MDP Funds”). Under the terms of the agreement, which is structured as a tender offer scheduled to commence within the next few days, BFYT shareholders will receive $31.00 in cash for each share of BFYT that they own.
If you own BFYT shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether BFYT’s board was truly independent and fully informed as to the valuation of the proposed acquisition of the Company, whether the board acted to maximize shareholder value prior to entering into the acquisition agreement, and whether all information regarding the valuation of the deal will be fully and fairly disclosed to BFYT shareholders. Notably, at least one analyst set a target price of $75.00 per BFYT share, or $44.00 above the per-share offer.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP