'Idol' Owner Hit With Class Actions Over $512M Sale

Law360, New York (May 25, 2011, 7:21 PM EDT) -- Shareholders of CKx Inc. — which owns "American Idol" and the images of Elvis Presley and Muhammad Ali — have launched putative class actions in Delaware and New York to block the company's nearly $512 million sale to Apollo Management LLC.

One suit, filed Wednesday in Delaware state court by shareholder Harry C. Vanwhy Jr., accuses CKx, several directors and officers, Apollo, and others of undervaluing the company and failing to disclose all the pertinent information to CKx investors in attempts to get them to approve...
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