Investors Question Fairness of Proposed Mergers for ALGT, SNCY, CWAN Shareholders

Law firm investigates potential violations and breaches of fiduciary duties in major airline and tech deals

Mar. 31, 2026 at 3:20pm

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A photorealistic studio still life featuring a stack of legal documents, a pen, and a calculator arranged on a clean, white background, symbolizing the complex negotiations involved in corporate mergers and acquisitions.A meticulous still life captures the intricate financial and legal considerations at play in major corporate transactions.NYC Today

Halper Sadeh LLC, an investor rights law firm, is investigating the proposed mergers of Allegiant Travel Company (ALGT) with Sun Country Airlines (SNCY), as well as Clearwater Analytics Holdings (CWAN)'s sale to private equity firms Permira and Warburg Pincus. The firm is looking into whether the terms of these transactions are fair to shareholders, citing concerns that insiders may receive substantial benefits not available to ordinary shareholders and that the deals could limit superior competing offers.

Why it matters

These high-profile mergers and acquisitions in the airline and tech sectors have raised questions about whether shareholders are being treated fairly, especially as insiders and executives may stand to gain disproportionately. The investigations by Halper Sadeh aim to ensure that all shareholders are adequately represented and receive maximum value for their holdings.

The details

Halper Sadeh LLC is investigating the proposed $4.1 billion merger of Allegiant Travel Company and Sun Country Airlines, in which Allegiant shareholders would own approximately 67% of the combined company. The firm is also looking into Clearwater Analytics' $7.6 billion sale to private equity firms Permira and Warburg Pincus for $24.55 per share in cash. In both cases, the law firm is concerned that the terms of the deals may limit the ability of shareholders to receive superior competing offers and that insiders could be obtaining substantial financial benefits not available to ordinary shareholders.

  • The proposed Allegiant-Sun Country merger was announced on March 31, 2026.
  • The proposed Clearwater Analytics sale to Permira and Warburg Pincus was announced on March 31, 2026.

The players

Halper Sadeh LLC

An investor rights law firm investigating the proposed mergers and acquisitions for potential violations of securities laws and breaches of fiduciary duties to shareholders.

Allegiant Travel Company

A major U.S. airline that has proposed merging with Sun Country Airlines.

Sun Country Airlines Holdings, Inc.

A U.S. airline that has agreed to be acquired by Allegiant Travel Company.

Clearwater Analytics Holdings, Inc.

A financial technology company that has agreed to be acquired by private equity firms Permira and Warburg Pincus.

Permira

A global private equity firm acquiring Clearwater Analytics.

Warburg Pincus

A global private equity firm acquiring Clearwater Analytics.

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What they’re saying

“We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.”

— Daniel Sadeh, Attorney, Halper Sadeh LLC

“Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation.”

— Zachary Halper, Attorney, Halper Sadeh LLC

What’s next

Halper Sadeh LLC will continue to investigate the proposed mergers and acquisitions to determine if the terms are fair to shareholders. The firm encourages shareholders to contact them to discuss their rights and options.

The takeaway

These high-profile deals in the airline and tech sectors have raised concerns about whether shareholders are being treated equitably, with the potential for insiders to receive outsized benefits. Shareholder advocacy firms like Halper Sadeh play an important role in ensuring that all investors are properly represented and receive maximum value.