(AVLR) – AVLR Alert: Monsey Firm of Wohl & Fruchter LLP Investigating

(AVLR) – AVLR Alert: Monsey Firm of Wohl & Fruchter LLP Investigating

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MONSEY, NY, Sept. 06, 2022 (GLOBE NEWSWIRE) — The law firm Wohl & Fruchter LLP is investigating whether the directors of Avalara, Inc. AVLR (“Avalara”) acted in the best interests of Avalara shareholders by approving the sale of Avalara to Vista Equity Partners (“Vista”) for $93.50 per share in cash.

If you remain an Avalara shareholder and have questions about your legal rights, you can contact our firm at the link below to discuss your options free of charge:

https://wohl Fruchter.com/cases/avalara/

Alternatively, you can contact us by phone at 866-833-6245 or email at alerts@wohl Fruchter.com.

Why is there an investigation?
On August 8, 2022, Avalara announced that it had agreed to be acquired by Vista for $93.50 per share in cash. The Agreement has been approved by Avalara’s board of directors (“Board of Directors”).

Our investigation concerns whether Avalara’s board of directors acted in the best interests of Avalara’s shareholders in approving the sale, including whether the purchase price adequately compensated Avalara’s shareholders and whether all material information regarding the transaction was fully disclosed.

Notably, Avalara stock’s 52-week high is $191.67 per share, and Avalara stock only closed above $100 per share on April 5, 2022. Additionally, Avalara hosted an Investor Day on June 28, 2022, where it announced multiple expansion opportunities in e-invoicing and other markets and forecast improvement in financial results, including operating margin growth from 1% in 2021 to 10-15% in 2025 and an increase in free cash flow margin from 2% in 2021 to 13-18% in 2025.

One SeekingAlpha analyst found it “shocking” that Avalara would agree to be acquired by Vista Equity for just $93.50 per share so soon after hosting such a positive investor event.

About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has been representing investors in fraud and other corporate wrongdoing litigation for over a decade and…


Read full story here https://www.benzinga.com/pressreleases/22/09/g28757817/avlr-alert-monsey-firm-of-wohl-fruchter-llp-investigating-the-sale-of-avalara-inc-to-vista-equity-

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