AVLR Alert: Monsey Firm of Wohl & Fruchter LLP Investigating the Sale of Avalara, Inc. to Vista Equity Partners

AVLR Alert: Monsey Firm of Wohl & Fruchter LLP Investigating the Sale of Avalara, Inc. to Vista Equity Partners

MONSEY, N.Y., Sept. 06, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Avalara, Inc. (NYSE: AVLR) (“Avalara”) acted in the best interests of Avalara shareholders in 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 may contact our firm at the following link to discuss your options at no charge:

https://wohlfruchter.com/cases/avalara/

Alternatively, you may contact us by phone at 866-833-6245, or via email at [email protected].

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 the Avalara board of directors (“Board”).

Our investigation concerns whether Avalara’s Board acted in the best interests of Avalara shareholders in approving the sale, including whether the acquisition price adequately compensates Avalara shareholders, and whether all material information regarding the transaction has been fully disclosed.

Notably, the 52-week high for Avalara’s stock is $191.67 per share, and Avalara’s stock closed at over $100 per share as recently as April 5, 2022. Moreover, on June 28, 2022, Avalara held an investor day at which it touted multiple expansion opportunities in e-invoicing and other markets, and projected improving financial results, including growth in operating margin 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.

An analyst on SeekingAlpha found it “shocking” that Avalara would agree to be acquired by Vista Equity for only $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 for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
[email protected]
www.wohlfruchter.com