Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Delaware on behalf of shareholders of Inspire Medical Systems, Inc if they (1) sold shares of Focus Financial common stock from February 27, 2023 through the closing of the “take-private” acquisition of Focus Financial by Clayton, Dubilier & Rice, LLC (“CD&R”) on August 31, 2023 (the “Merger”), including investors who sold their shares of Focus Financial common stock into the Merger, and (2) all persons or entities that held Focus Financial common stock on the June 9, 2023 record date for the Merger who were entitled to vote on the Merger.
Focus Financial and certain of its executives are charged with failing to disclose material information leading up to the Merger by, among other things, omitting that they failed to adequately solicit potential strategic acquirors and misrepresenting the nature and scope of the negotiating process, violating federal securities laws.
On February 27, 2023, the Company announced it had entered into a merger agreement to be acquired by private equity firm, Clayton, Dubilier & Rice, LLC for $53.00 per share (the “Merger”). The stockholder vote on the Merger was held on July 14, 2023, and the transaction was completed on August 31, 2023.
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 March 4, 2024 to request that the court appoint them lead plaintiff.