NEW
YORK, Oct. 11, 2023 /PRNewswire/ -- Julie &
Holleman LLP, a preeminent law firm focused on shareholder rights,
is investigating the proposed $6.5
billion acquisition of New Relic, Inc. (NYSE: NEWR) by
investment firms Francisco Partners and TPG. The firm is concerned
about the adequacy of the $87 per
share price as well as potential conflicts of interest.
For a no-cost consult and to learn more about our investigation,
please click here or visit:
https://julieholleman.com/?p=3160
Founded in 2007, New Relic has emerged as a leading provider of
"observability" services, allowing companies to develop key
insights into the performance of their websites and applications.
The company's founder is Lewis
Cirne, who remains the company's executive chairman and
largest shareholder.
On July 31, 2023, New Relic
announced it had entered into a merger agreement with Francisco
Partners and TPG, who agreed to buy the company for $87 per share. This is far less than Wall Street
analyst price targets exceeding $100,
and also less than what other companies had offered during the
sales process.
Julie & Holleman is concerned not only about the inadequate
price, but also about potential conflicts of interest. Certain
shareholders may have interest that conflict with shareholders at
large, and Mr. Cirne has agreed to "roll over" a portion of his
shares, which indicates his belief that the company may be worth
more.
If you would like more information about Julie & Holleman's
investigation, or about the acquisition in general, please contact
W. Scott Holleman by email at
scott@julieholleman.com or by telephone at (929) 415-1020. You may
also visit the firm's website by clicking here.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions,
and corporate investigations. The firm's attorneys litigate in
state and federal courts across the nation and have helped secure
hundreds of millions of dollars for aggrieved companies and their
shareholders. For more information about the firm, please visit
www.julieholleman.com. This notice may constitute attorney
advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
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SOURCE Julie & Holleman LLP