NEW YORK, Aug. 11, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of NortonLifeLock Inc. («NortonLifeLock» or the «Company») (NASDAQ: NLOK) in connection with the Company’s proposed acquisition by Avast Plc («Avast») (LSE: AVST). Under the terms of the agreement, Avast shareholders will be entitled to receive for each Avast share held: $7.61 in cash and 0.0302 of a NortonLifeLock share («Majority Cash Option»), representing implied per-share merger consideration of approximately $8.34 based upon NortonLifeLock’s August 10, 2021 closing price of $24.15; or as an alternative to the Majority Cash Option, Avast Shareholders (other than those resident in a restricted jurisdiction) may elect to receive for each Avast share held: $2.37 in cash and 0.1937 of a NortonLifeLock share, representing implied per-share merger consideration of approximately $7.05 based upon NortonLifeLock’s August 10, 2021 closing price of $24.15. Avast shareholders who do not positively elect to receive the Majority Stock Option will receive the Majority Cash Option. Upon completion of the merger, and subject to the elections made by Avast shareholders, Avast shareholders will own between approximately 14% (if all Avast shareholders, other than the Avast directors who hold Avast shares, receive the Majority Cash Option) and approximately 26% (if all Avast shareholders elect for the Majority Stock Option) of the combined company on a fully diluted basis. The transaction is valued at between approximately $8.1 billion and $8.6 billion, depending on Avast shareholders’ elections.
If you own NortonLifeLock shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether: (i) NortonLifeLock’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) whether the deal’s equity split is fair to NortonLifeLock shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP