Cedar Fair Investor Sues Over $2.4B Sale To Apollo

By Melissa Lipman

Law360, New York (January 21, 2010, 4:47 PM ET) -- A Cedar Fair LP shareholder has filed a putative class action in an attempt to block affiliates of private equity firm Apollo Investment Corp. from buying the amusement park owner for $2.4 billion, arguing that the offer severely undervalues the company.

The suit — filed Wednesday in the Delaware Chancery Court by shareholder Ruth Walton — accuses Cedar Fair and its board of directors of breaching their fiduciary duty to investors and claims that Apollo Global Management LLC aided and abetted that breach.

According to the...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles