Poshmark, Inc. (Nasdaq – POSH)

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Poshmark, Inc. (Nasdaq – POSH)

BALA CYNWYD – October 4, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Poshmark, Inc. (“Poshmark” or the “Company”) (Nasdaq – POSH) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Naver Corp. (“Naver”). Under the terms of the Merger Agreement, Naver will acquire all of the issued and outstanding shares of Poshmark for $17.90 in cash, representing an enterprise value of approximately $1.2 billion.

The investigation concerns whether the Poshmark Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Naver is paying too little for the Company. For example, the deal consideration is below the 52-week high of $27.34 for the Company’s shares.

If you own shares of Poshmark stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

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