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NortonLifeLock, Inc. 

Merger

  • Date:
  • 8/12/2021
  • Company Name:
  • NortonLifeLock, Inc.
  • Stock Symbol:
  • NLOK
  • Company Name - Buyer:
  • Avast Plc
  • Stock Symbol - Buyer:
  • AVST.L
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 8/11/2021

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NEW YORK, August 12, 2021 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of NortonLifeLock Inc. (NASDAQ: NLOK) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition of Avast Plc (LSE: AVST.L).

On August 11, 2021, NortonLifeLock announced that it had entered into an agreement to acquire Avast in a deal valued at between approximately $8.1 and $8.6 billion.  Pursuant to the merger agreement, Avast stockholder will have the choice to receive either the Majority Cash Option or the Majority Stock Option.  The Majority Cash Option allows Avast stockholders to receive $7.61 in cash and 0.0302 shares of NortonLifeLock for each share of Avast common stock owned.  The Majority Stock Option allows Avast stockholder to receive $2.37 in cash and 0.1937 shares of NortonLifeLock common stock for each share of Avast common stock owned.

Bragar Eagel & Squire is concerned that NortonLifeLock’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.  Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for NortonLifeLock’s stockholders.
 
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in NortonLifeLock. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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