NEW YORK, NY / ACCESSWIRE / November 21, 2022 - Kehoe Law Firm, P.C. is investigating whether the directors of Poshmark, Inc. ('Poshmark') (NASDAQ:POSH) breached their fiduciary duties in approving a merger with NAVER Corporation ('NAVER') for inadequate consideration.
The investigation concerns whether Poshmark's board of directors failed to maximize the value of Poshmark for the benefit of Poshmark's shareholders in connection with its announced merger with NAVER, in breach of their fiduciary duties to Poshmark's shareholders, and whether Poshmark's shareholders have suffered damages as a result.
On October 3, 2022, Poshmark announced it had reached an agreement to be bought out by NAVER for $17.90 per share. The transaction is valued at approximately $1.2 billion.
OWNERS OF POSHMARK STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, INFO@KEHOELAWFIRM.COM, TO DISCUSS THE INVESTIGATION AND FOR A FREE, NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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SOURCE: Kehoe Law Firm, P.C.
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