YORK, Aug. 23, 2022 /PRNewswire/ -- Shareholder
rights law firm Julie & Holleman is investigating the proposed
acquisition of Pzena Investment Management, Inc. (NYSE: PZN) by its
controlling shareholders. The deal was announced on July 27, 2022, offers PZN shareholders just
$9.60 per share, and is expected to
be completed in the fourth quarter of 2022.
To learn more about the investigation, click here.
According to SEC filings, PZN was formed in 2007 to manage the
operations of Pzena Investment Management, LLC (PIM), an investment
management company that was originally founded in 1995 by
Richard S. Pzena, John P. Goetz, and William L. Lipsey. Shortly after its formation,
the founders took PZN public through an IPO. But even after the
IPO, the founders retained control over PZN through their ownership
of super-voting "Class B" shares of stock. Based on PZN's most
recent proxy statement, Pzena, Goetz, and Lipsey own more than 60%
of the company's overall voting power.
Julie & Holleman is investigating potential legal claims
available to PZN's shareholders regarding the proposed acquisition,
including claims relating to potential conflicts resulting from the
fact that Pzena, Goetz, and Lipsey control the company they now
want to buy. Julie & Holleman is also concerned about the
adequacy of the $9.60 per share
acquisition price, as one analyst recently established a price
target of $18 per share, nearly
double the price agreed to by PZN's board of directors.
If you would like more information about Julie & Holleman's
investigation, or about the acquisition in general, please contact
W. Scott Holleman by email at
firstname.lastname@example.org or by telephone at (929) 415-1020. You may
also visit the firm's website by clicking here.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions, and corporate
investigations. The firm's attorneys litigate in state and federal
courts across the nation. For more information about the firm,
please visit https://www.julieholleman.com/. This notice may
constitute attorney advertising.
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SOURCE Julie & Holleman LLP