Interactive Data Faces Investor Suit Over $3.4B Sale

Law360, New York (May 17, 2010, 5:10 PM EDT) -- An Interactive Data Corp. shareholder has launched a putative class action alleging the company undervalued its $3.4 billion sale to private equity firms Warburg Pincus LLC and Silver Lake Technology Management LLC.

Brad Marques filed his complaint against IDC, a unit of Pearson PLC, as well as the company's board of directors and the firm's purchasers in the Delaware Chancery Court on Friday, saying the $33.86 purchase price for each share of IDC common stock is unfair.

The IDC board breached its fiduciary duties by improperly...
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