Robbins LLP Urges Former KnowBe4 Stockholders to Join Class Action Lawsuit

Robbins LLP Invites Former KnowBe4 Shareholders to Join Class Action Lawsuit



In a significant development for former investors of KnowBe4, Inc. (NASDAQ: KNBE), Robbins LLP, a leading law firm specializing in shareholder rights litigation, has issued a reminder about a class action lawsuit filed for the benefit of stockholders. This initiative is specifically aimed at individuals who either held shares of KnowBe4 common stock as of the record date of December 7, 2022, or sold shares between October 12, 2022, and February 1, 2023. The lawsuit pertains to the controversial acquisition of KnowBe4 by Vista Equity Partners Management LLC and its affiliates, raising important concerns regarding the integrity of the voting process and the fairness of the acquisition.

Background of the Class Action



The class action was initiated in response to complaints filed against KnowBe4, citing misleading statements made by the company regarding the acquisition process. According to the lawsuit, the defendants—those associated with KnowBe4—allegedly provided misleading information or omitted critical facts in SEC filings. These omissions included:

  • - An unfair sales process that allegedly favored Vista Equity.
  • - Claims of the purported independence of the Special Committee overseeing the merger negotiations.
  • - Evidence suggesting that KKR, another significant player in the merger discussions, intended to increase their investment in the post-merger entity significantly, leading to questions about the motivations behind the sale.

Furthermore, the complaint highlights the potential bias of the Special Committee, suggesting favoritism towards Vista over other potential bidders and a failure to adequately consider alternative strategies beyond selling KnowBe4. These allegations led to stockholders not being fully informed about their voting rights, thus denying them a fair opportunity to either accept the merger terms or exercise their appraisal rights.

What Stockholders Should Do



Current and former stockholders of KnowBe4 who are interested in participating in this class action must take action before the deadline to file a motion for lead plaintiff position, which is set for August 5, 2025. Serving as a lead plaintiff means taking on representative responsibilities on behalf of the class members participating in the litigation. Importantly, shareholders do not need to actively engage in the case to be considered for potential recovery; those who choose not to participate will still remain part of the class.

Robbins LLP operates on a contingency fee basis, meaning that shareholders will not incur any costs unless they see a recovery from the case. This structure aims to lower the barriers for stockholders to seek justice for their losses.

About Robbins LLP



This law firm has carved out a niche for itself since 2002, focusing on helping shareholders recover their losses while promoting better corporate governance among publicly traded companies. Their track record reflects a steadfast commitment to holding company executives accountable for their actions, making them a respected name in the field of shareholder rights litigation.

Stay Informed



For those interested in remaining updated on the KnowBe4 class action or wish to be alerted when significant corporate misconduct occurs, Robbins LLP recommends signing up for their Stock Watch service. This subscription provides timely notifications about class actions and other important developments in corporate governance.

In conclusion, former stockholders of KnowBe4 are encouraged to reach out to Robbins LLP for more information on how to join the class action. By standing united, shareholders may not only recover potential losses but also influence how companies engage with their stakeholders in the future.

Topics Financial Services & Investing)

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