On March 15, 2023, Nellore Capital Management LLC announced that independent proxy advisory firm Glass Lewis & Co has recommended the shareholders of Magnet Forensics Inc to vote against the takeover by Thoma Bravo, citing inadequate valuation. In addition, Glass Lewis & Co called the current premium as marginal" and management's quantitative case as unconvincing and questionably sourced, highlighting the issues including procedural depth and transparency, transaction timing, valuation factors and an underwhelming quantitative case from the Company and determined that the current offer may reflect no vale from.