Kaskela Law LLC is investigating the fairness of the proposed buyout of New Relic, Inc. (“New Relic”) (NYSE: NEWR) shareholders by private equity firms Francisco Partners and TPG at $87.00 per share.

The $87.00 per share buyout price appears to undervalue New Relic’s shares.  Notably, at the time the proposed buyout was negotiated and announced, several stock analysts had assigned price targets on New Relic’s shares well above the $87.00 per share buyout price, including Credit Suisse, who had assigned a $113.00 per share price target to the shares.  Additionally, Reuters has reported that “[t]he two private equity firms offered more than $90 per share in cash to acquire New Relic” in May.

The investigation has uncovered significant potential conflicts of interest in the proposed buyout, and seeks to determine (i) whether $87.00 per share represents maximum achievable cash consideration for New Relic’s shareholders, and (ii) whether New Relic’s officers and/or directors breached their fiduciary duties or violated the securities laws by agreeing to sell the company to Francisco Partners and TPG at just $87.00 per share.

New Relic shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (888) 715 – 1740, or by completing the form on this page, for additional information about this investigation and their legal rights and options.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
[email protected]
Adrienne Bell, Esq.
[email protected]
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750