(EGOV Alert) Johnson Fistel Investigates Proposed Sale of NIC; Are Shareholders Getting a Fair Price?
SAN DIEGO, Feb. 10, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of NIC Inc. (NASDAQ: EGOV) breached their fiduciary duties in connection with the proposed sale of the Company to Tyler Technologies, Inc. (NYSE: TYL).
On February 10, 2021, NIC announced that it had entered into a definitive merger agreement with Tyler Technologies. Under the terms of the Agreement, NIC shareholders will receive $34.00 in cash for each share of NIC's common stock they currently hold.
The investigation concerns whether the NIC board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for NIC shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's strong balance sheet; NIC has over $236 million in cash and little long-term debt.
If you are a NIC shareholder and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
