Investigation of NAVER’s Buyout of Poshmark – POSH
Kehoe Law Firm, P.C. is investigating whether the directors of Poshmark, Inc. (“Poshmark”) (NASDAQ: POSH) breached their fiduciary duties to its shareholders 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.
IF YOU INVESTED IN POSHMARK STOCK, YOU ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AS YOU MAY HAVE LEGAL CLAIMS AGAINST POSHMARK’S DIRECTORS AND OFFICERS.
IF YOU WISH TO DISCUSS THIS INVESTIGATION, OR HAVE QUESTIONS ABOUT YOUR LEGAL RIGHTS, YOU ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
