M&A
confidence high
sentiment negative
materiality 0.90
Victory Capital faces stockholder lawsuits over Amundi US acquisition proxy disclosures
Victory Capital Holdings, Inc.
- Two complaints filed Sept 19, 2024 in New York Supreme Court by stockholders against Victory and its board.
- Five demand letters received alleging insufficient disclosures in proxy statement for the Amundi US contribution.
- Victory denies allegations but voluntarily supplements proxy with revised financial forecasts and PJT Partners analysis.
- Special meeting still set for Oct 11, 2024; board recommends voting FOR the share issuance proposals.
- PJT Partners earned $2.5M for opinion, will get $1.5M at closing, plus part of $9M discretionary fee pool.