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SAN DIEGO, July 20, 2021 /PRNewswire/ Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Five9, Inc. (NASDAQ: FIVN) ( Five9 or the Company ) breached their fiduciary duties in connection with the proposed sale of the Company to Zoom Video Communications, Inc. (NASDAQ: ZM).
On July 18, 2021, Five9 announced that it had entered into a definitive merger agreement with Zoom Video. Under the terms of the definitive merger agreement, Five9 stockholders will receive 0.5533 shares of Class A common stock of Zoom Video for each share of Five9. Based on the closing share price of Zoom Video Class A common stock as of July 16, 2021, this represents a per share price for Five9 common stock of $200.28. Five9 will be subject to future fluctuations of Zoom Video s stock price.
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