An investor, who purchased shares of Focus Financial Partners Inc. (formerly NASDAQ: FOCS), filed a lawsuit against Focus Financial Partners Inc. and certain of the Company's officers and directors over alleged violations of Federal Securities Laws
Investors who Sold a significant amount of shares of Focus Financial Partners Inc. (formerly NASDAQ: FOCS) between February 27, 2023 and August 31, 2023, have certain options and for certain investors are short and strict deadlines running. Deadline: March 4, 2024. Former NASDAQ: FOCS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Focus Financial Partners Inc. holds ownership interests in independent fiduciary wealth management firms providing investment and financial services to high and ultra-high net worth individuals and families. Prior to the Merger, private equity firm Stone Point Capital LLC ("Stone Point") held approximately 20.6% of Focus Financial's voting power and appointed two members to the Company's board of directors (the "Board").
On February 27, 2023, Focus Financial Partners Inc. (NASDAQ:FOCS), Clayton, Dubilier & Rice, LLC ("CD&R") and Stone Point Capital LLC ("Stone Point") announced that Focus Financial Partners Inc and CD&R have entered into an agreement for Focus Financial Partners Inc to be acquired by affiliates of CD&R in an all-cash transaction valued at an enterprise value of over $7 billion. The proposed transaction delivers substantial value to Focus' stockholders, who received $53 in cash per share.
The plaintiff claims that the defendants materially misrepresented the sale process leading up to the Merger by, among other things, omitting that they failed to adequately solicit potential strategic acquirors for Focus Financial. Contrary to Defendants' public statements concerning the Merger, including in the definitive shareholder proxy statement filed on June 12, 2023, the sale process allegedly was not "thorough" because strategic buyers were not adequately canvassed by Defendants, the one strategic buyer that broke through was denied critical due diligence and its higher-priced merger proposal was rejected. As alleged in the complaint, Stone Point preferred a transaction with CD&R, as opposed to the strategic acquiror that was prepared to offer more to Focus shareholders, given Stone Point's interest in obtaining a more lucrative equity rollover into a private equity firm.
Those who SOLD shares of Focus Financial Partners Inc. (formerly NASDAQ: FOCS) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Focus Financial Partners Inc. (Formerly NASDAQ: FOCS) Notice: Lawsuit Alleges Securities Laws Violations
A lawsuit was filed on behalf of certain Sellers of Focus Financial Partners Inc. (formerly NASDAQ: FOCS) shares over alleged securities laws violations.