The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of Florida on behalf of shareholders of KnowBe4, Inc. who purchased sold shares of KnowBe4 common stock from the October 12, 2022 announcement date through the February 1, 2023 close of the Merger..
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) unfair sales process that provided distinct advantages to Vista; (ii) special committee’s purported independence; (iii) KKR’s intention to increase its rollover or reinvestment into the post-close KnowBe4 by 50-100% after learning the deal price; (iv) special committee’s favoritism towards Vista over other potential bidders; (v) special committee’s failure to consider strategic alternatives other than a sale of KnowBe4; and (vi) Company’s largest non-rollover stockholder, Mitnick, owed his personal fortune and professional legitimacy to KnowBe4’s founder, Sjouwerman, and therefore was not independent from members of the control group. These filings contained materially false and misleading statements and omissions, thereby denying stockholders an appropriately informed vote on the Merger and an appropriately informed opportunity to decide whether to accept the Merger consideration or instead exercise their appraisal rights.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 1, 1800 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
