SAN DIEGO, Oct. 12, 2022 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP has opened an investigation into whether the directors of ForgeRock, Inc. (NYSE: FORG) breached their fiduciary duties in connection with the proposed sale of the company to Thoma Bravo.

On October 11, 2022, ForgeRock announced that it was being acquired by private equity firm Thoma Bravo in a $2.3 billion cash transaction. Under the terms of the agreement, Thoma Bravo will acquire the company for $23.25 per share.

You may click or copy and paste the link below to participate in this investigation:

https://www.johnsonfistel.com/investigations/forgerock-inc

The investigation concerns whether ForgeRock’s board of directors failed to fulfill its responsibilities to the company’s shareholders, including whether the board of directors appropriately pursued acquisition alternatives and whether the board of directors obtained the best possible price for ForgeRock’s common stock. Johnson Fistel has national recognition and is investigating whether the proposed deal represents reasonable consideration, especially given that a Wall Street analyst had a $26.00 target price on the stock. Additionally, ForgeRock went public in 2021 at $25.00 per share and since the IPO the stock has peaked at $47.15.

If you are a ForgeRock shareholder and believe the proposed acquisition price is too low, or would like to learn more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. When emailing, please include your phone number.

About Johnson Fistula, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in class action lawsuits involving shareholder derivatives and securities. For more information about the firm and its attorneys, visit https://www.johnsonfistula.com. attorney advertising. Past results do not guarantee future results.

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