AVDX Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of AvidXchange Holdings to TPG Global and Corpay
MONSEY, N.Y., July 03, 2025 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of AvidXchange Holdings, Inc. (Nasdaq: AVDX) (“Avid”) to TPG Global LLC (“TPG”) and Corpay, Inc. (“Corpay”) for $10.00 per share in cash.
On June 17, 2025, Avid filed a preliminary proxy statement (“Proxy”) with the SEC under Section 14(a) of the Exchange Act soliciting Avid stockholders to vote for the proposed sale at a special meeting yet to be scheduled. In the law firm’s opinion, the Proxy fails to disclose all material facts relating to certain potential conflicts of interest.
If you remain an Avid shareholder and have concerns about the proposed sale, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/avidxchange-holdings/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On May 6, 2025, Avid announced that it had agreed to be sold to TPG and Corpay for $10.00 per share in cash.
Certain members of the AvidXchange senior management team, including the Chief Executive Officer, Michael Praeger, have agreed to roll over a significant chunk of their current equity in support of the deal. No such opportunity is being made available to public stockholders.
On June 17, 2025, Avid filed the Proxy with the SEC soliciting Avid stockholders to vote for the proposed sale at a special meeting yet to be scheduled. In the law firm’s opinion, the Proxy fails to disclose all material facts relating to certain potential conflicts of interest.
“We are investigating whether the Avid Board of Directors acted in the best interests of Avid shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Avid shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
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