Inactive Instrument

Poshmark, Inc.

POSH

US73739W1045

Shareholder Alert: Ademi LLP investigates whether Poshmark, Inc. has obtained a Fair Price in its transaction with Naver Corp

October 04, 2022 at 11:54 am EDT

MILWAUKEE, Oct. 4, 2022 /PRNewswire/ -- Ademi LLP is investigating Poshmark (NASDAQ: POSH) for possible breaches of fiduciary duty and other violations of law in its transaction with Naver Corp.

AdemiLogo (PRNewsfoto/Ademi LLP)

Click here to learn how to join the action: https://www.ademilaw.com/case/poshmark-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

Ademi LLP alleges Poshmark's financial outlook and prospects are excellent and yet Poshmark holders will receive only $17.90 in cash, representing an enterprise value of approximately $1.2 billion. The transaction agreement unreasonably limits competing bids for Poshmark by imposing a significant penalty if Poshmark accepts a superior bid. Poshmark insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Poshmark's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Poshmark.

If you own Poshmark common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/poshmark-inc.

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-ademi-llp-investigates-whether-poshmark-inc-has-obtained-a-fair-price-in-its-transaction-with-naver-corp-301640391.html

SOURCE Ademi LLP

Latest news about Poshmark, Inc.

Naver Acquires Poshmark for $1.2 Billion	23-01-09	MT
Poshmark, Inc. Announces Cessation of Directors	23-01-05	CI
Poshmark, Inc.(NasdaqGS:POSH) dropped from NASDAQ Composite Index	23-01-05	CI
Poshmark, Inc.(NasdaqGS:POSH) dropped from S&P Retail Select Industry Index	23-01-05	CI
Poshmark, Inc.(NasdaqGS:POSH) dropped from S&P Global BMI Index	23-01-05	CI
Poshmark, Inc.(NasdaqGS:POSH) dropped from S&P TMI Index	23-01-05	CI
NAVER Corporation completed the acquisition of Poshmark, Inc. from GGV Capital V Entrepreneurs Fund L.P., GGV Capital V L.P. managed by GGV Capital, LLC, Mayfield XIII, L.P., Mayfield Select managed by Mayfield Fund, LLC and others.	23-01-04	CI
Poshmark Q3 Net Loss Widens, Revenue Increases	22-11-10	MT
Earnings Flash (POSH) POSHMARK Posts Q3 Revenue $88.4M	22-11-10	MT
Poshmark, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	22-11-10	CI
Trending : Naver Misses Profit Expectations on Sluggish Ad Sales, Higher Costs	22-11-06	DJ
Naver Third-Quarter Profit Fell 28% on Year, Missing Consensus	22-11-06	DJ
Barclays Downgrades Poshmark to Equalweight From Overweight, Adjusts Price Target to $18 From $17	22-10-05	MT
Versalink Expects Return to Black in Fiscal H1 as Full Production Resumes	22-10-05	MT
Sector Update: Consumer Discretionary Stocks Surging in Afternoon Trading	22-10-04	MT
Poshmark Agrees to be Acquired by South Korea's Naver in $1.2 Billion Deal; Wedbush Says Takeover Unlikely to Attract Higher Bids	22-10-04	MT
Sector Update: Consumer Discretionary Stocks Surging in Afternoon Trading	22-10-04	MT
A new narrative	22-10-04
Sector Update: Consumer Stocks Edge Higher Premarket Tuesday	22-10-04	MT
Sector Update: Consumer	22-10-04	MT
ETF Preview: ETFs, Futures Surge Pre-Bell Ahead of Job Openings, Factory Orders Report	22-10-04	MT
US Equity Futures Jump Higher as Stocks Continue October Gains; Europe, Asia Advance	22-10-04	MT
Poshmark Agrees to be Acquired by South Korea's Naver in $1.2 Billion Deal; Wedbush Says Takeover Unlikely to Attract Higher Bids	22-10-04	MT
Poshmark Set to Be Acquired for 'Well Below' IPO Price in Takeover Deal With South Korea's Naver	22-10-04	MT
Wedbush Downgrades Poshmark to Neutral From Outperform on Naver Deal, Adjusts Price Target to $17.50 From $14	22-10-04	MT

Chart Poshmark, Inc.

Duration

Period

More charts

Company Profile

Poshmark, Inc. is a social marketplace for new and secondhand style for women, men, kids, pets, home and more, which combines the human connection of a physical shopping experience with the scale, reach, ease, and selection benefits of e-commerce. The Company curates its marketplace into lifestyle categories, including apparel, accessories, footwear, home, beauty, and pets. Its social features make the discovery and purchase process simple and enticing for buyers, fostering high engagement and retention. It enables buyers to discover, connect, and curate their network and news feed with that of other users who share similar styles and personal preferences, creating a fun shopping experience. The Company's application includes various social features, including share, like, follow, comment, offer and posh parties. Its seller services include storefront services, social marketing services, logistics and payment services, customer support services, and heart and hustle community fund.

Sector

Internet Services

More about the company

Sector E-commerce & Auction Services

	1st Jan change	Capi.
ALIBABA GROUP HOLDING LIMITED	-3.41%	182B
PDD HOLDINGS INC.	-14.19%	169B
SHOPIFY INC.	-8.99%	93.08B
MEITUAN INC.	+36.14%	89.96B
MERCADOLIBRE, INC.	-13.06%	69.46B
COPART, INC.	+12.52%	52.81B
EBAY INC.	+17.71%	26.51B
RAKUTEN GROUP, INC.	+17.48%	10.6B
VIPSHOP HOLDINGS LIMITED	-10.64%	8.57B

E-commerce & Auction Services