Software Co. Heads To $291M Merger Vote After 2 Settlements

Law360, Los Angeles (April 30, 2012, 6:45 PM EDT) -- Private equity-owned educational software maker Archipelago Learning Inc. on Thursday resolved two shareholder class actions over its proposed $291 million acquisition by Plato Learning Inc., paving the way for shareholders to vote on the merger.

The settlement, filed in Delaware Chancery Court, resolves shareholder suits filed against Archipelago after the merger was announced in early March. The lawsuits, filed in Delaware and Texas, claimed the acquisition shortchanged Archipelago's shareholders and sought injunctive relief to halt the acquisition until a more favorable deal was reached.

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