Cedar Fair Investor Sues Over $2.4B Sale To Apollo

Law360, New York (January 21, 2010, 4:47 PM EST) -- 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, register now.