Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Western District of Washington, Vineet Parekh v. Avalara, Inc. et al, Docket No. 2:22-cv-01580, on behalf of public common shareholders of Avalara, Inc. (“Avalara” or “AVLR”) who held AVLR securities as of the record date September 8, 2022 (the “Class Period”), and have been harmed by Avalara’s and its board of directors’ alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) regarding the acquisition of Avalara by Vista Equity Partners Management, LLC (the “Acquisition”).
Under the terms of the Acquisition, each share of AVLR common stock was canceled and converted into $93.50 in cash (the “Acquisition Consideration”). The complaint alleges that the Acquisition Consideration provided shareholders with less than the fair value of Avalara and that the Proxy Statement filed by Avalara to solicit shareholder approval of the Acquisition misled shareholders about Avalara’s financials and the Acquisition in violation of the Exchange Act. The special meeting of AVLR stockholders to vote on the transaction was held on October 14, 2022, and the Acquisition closed on October 19, 2022.
If you wish to serve as lead plaintiff, you must move the Court no later than January 6, 2023. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Monteverde & Associates PC is a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018-2021 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers in 2013 and 2017-2019 as a Rising Star and in 2022 as a Super Lawyer in Securities Litigation. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, we have recovered or secured over a dozen cash common funds for shareholders in mergers & acquisitions class action cases.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341