CommScope Hit With Investor Suit Over Carlyle Deal

Law360, New York (October 29, 2010, 5:31 PM EDT) -- CommScope Inc. has been hit with a proposed shareholder class action alleging the telecommunication equipment company's $3.9 billion agreement to be acquired by The Carlyle Group essentially sells the company short.

The lawsuit filed Thursday by CommScope shareholder Dennis Rice in the Delaware Chancery Court accuses the company and various officers and directors — including Chairman and CEO Frank M. Drendel — of accepting the deal for their own benefit, while keeping shareholders from realizing the full value of the company as it emerges from the...
To view the full article, register now.