NEW YORK, July 14, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Imprivata Inc.
("IMPR" or the "Company") in connection with the proposed
acquisition of the Company by Thoma Bravo Inc. ("Thoma Bravo"). On July 13, 2016, the Company announced that it had
reached a definitive agreement for Thoma
Bravo to acquire all outstanding shares of IMPR in a
transaction valued at $544
million. Under the terms of the agreement, IMPR
shareholders will receive $19.25 in
cash for each IMPR share they own.
WeissLaw is investigating whether IMPR's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the offer price is nearly $2.50 lower than IMPR's 52-week high of
$21.63. Additionally, the
Company recently announced positive financial results for the first
quarter of 2016, reporting revenue growth of 23% year-over-year
from $25.6 million in previous year
to $31.5 million. Further,
Imprivata recently launched ConfirmID, the industry's first
electronic prescription system using biometric authentication
tools. According to a J.P. Morgan analyst, ConfirmID is
a"[c]lear winner in the competitive landscape . . . [and] is not
seeing much competition in the segment from other vendors."
Given these facts, WeissLaw is investigating whether IMPR's
Board acted in the best interests of IMPR's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own IMPR shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP