Press release
Investigation announced for Investors in Momentive Global Inc. (NASDAQ: MNTV) over Takeover
An investigation on behalf of investors of Momentive Global Inc. (NASDAQ: MNTV) in connection with the proposed takeover.
Investors who purchased shares of Momentive Global Inc. (NASDAQ: MNTV) and currently hold any of those NASDAQ: MNTV shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Momentive Global Inc. breached their fiduciary duties owed to NASDAQ: MNTV investors in connection with the proposed acquisition.
San Mateo, CA based Momentive Global Inc. provides software solutions that help companies turn stakeholder feedback into action in the United States and internationally. Momentive Global Inc. reported that its annual Total Revenue rose from $307.42 million in 2019 to $375.61 million in 2020, and that its Net Loss increased from $73.85 million in 2019 to $92.14 million in 2020.
On October 28, 2021, Zendesk (NYSE: ZEN) and Momentive (NASDAQ: MNTV) have entered into an agreement under which Zendesk will acquire Momentive, including its iconic SurveyMonkey platform. The terms of the transaction provide for Momentive stockholders to receive 0.225 shares of Zendesk stock for each share of Momentive stock, a ratio which represents an implied value of approximately $28 per outstanding share of Momentive stock based on the 15-day volume weighted average price of Zendesk common stock up to and including October 26, 2021.
However, given that at least one analyst has set the high target price for NASDAQ: MNTV shares at $30.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: MNTV stockholders. More specifically, the investigation concerns whether the Momentive Global Inc. Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Momentive Global Inc. (NASDAQ: MNTV) shares have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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