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NEWR BUYOUT ALERT: Kaskela Law LLC Announces Investigation of New Relic, Inc. (NYSE: NEWR) Buyout and Seeks Additional Cash for Investors

PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law LLC announces that it is investigating the proposed stockholder buyout of New Relic, Inc. (“New Relic”) (NYSE: NEWR) on behalf of the company’s shareholders.

On July 31, 2023, New Relic announced that it would be acquired by private investment firms Francisco Partners and TPG at a price of $87.00 per share in cash. Following the closing of the proposed transaction, New Relic shareholders will be cashed out of their investment position and the company’s shares will no longer be publicly traded.

The $87.00 per share buyout price appears to undervalue New Relic’s shares, as the company’s stock had traded at $86.00 per share less than three months ago. Further, at the time the proposed buyout was negotiated and announced, several stock analysts had assigned price targets on NEWR’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.

Accordingly, Kaskela Law is investigating whether New Relic’s shareholders are set to receive sufficient cash consideration for their NEWR shares in the proposed buyout, and whether New Relic’s officers and/or directors breached their fiduciary duties or violated the securities laws in agreeing to sell the company to Francisco Partners and TPG at $87.00 per share.

New Relic shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/new-relic/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

Contacts

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

Industry:

Kaskela Law LLC

NYSE:NEWR
Release Versions
English

Contacts

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

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