SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of HireRight Holdings Corporation (NYSE – HRT)
BALA CYNWYD – February 16, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of HireRight Holdings Corporation (“HireRight” or the “Company”) (NYSE – HRT) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to investment funds affiliated with General Atlantic, L.P. (“General Atlantic”) and Stone Point Capital LLC (“Stone Point” and together with General Atlantic, the “Sponsors”). The Sponsors are currently the beneficial owners of approximately 75% of the Company’s outstanding shares of common stock. Under the terms of the agreement, the Sponsors will acquire all of the outstanding shares they do not already own for $14.35 per share in cash, which implies a total enterprise value of approximately $1.65 billion.
The investigation concerns whether the HireRight Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the Sponsors are paying fair value to shareholders of the Company.
If you own shares of HireRight stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.