PPD Investor Sues Over $4B Carlyle, Hellman Buyout

Law360, New York (October 13, 2011, 9:29 PM EDT) -- A Pharmaceutical Product Development Inc. shareholder filed a putative class action Tuesday in North Carolina federal court seeking to block a $3.9 billion bid by private equity buyers The Carlyle Group LP and Hellman & Friedman LLC to take the research company private.

Plaintiff Mark Hendriks claims the transaction undervalues the company and is designed to benefit PPD's insiders at the expense of shareholders.

“Rather than permitting the company’s shares to continue to trade freely and allowing its public shareholders to reap the benefits of the...
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