Netezza Shareholder Sues To Block $1.7B IBM Merger

Law360, New York (September 22, 2010, 2:33 PM EDT) -- A Netezza Corp. shareholder has filed a putative class action to halt IBM Corp.'s $1.7 billion acquisition of the data warehouse supplier, alleging the board of directors severely underestimated the company's value.

Anthony Kolton lodged a verified complaint on behalf of thousands of Netezza shareholders in the Court of Chancery of the State of Delaware on Tuesday, naming both companies and the Netezza board of directors as defendants.

According to Kolton, the Netezza board failed to disclose that the Massachusetts-based company was up for sale and...
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