Advisors In $1.5B Knology Deal Had Conflict Of Interest: Suit

Law360, Wilmington (June 5, 2012, 3:54 PM EDT) -- A Knology Inc. investor launched a putative class action in Delaware court Monday alleging the cable provider's board shortchanged shareholders by enlisting financial advisers whose conflicted interests led directors to accept an undervalued $1.5 billion takeover bid.

The sale to WOW Internet, Cable & Phone — a subsidiary of Avista Capital Partners — for $750 million cash plus debt was announced in April and unanimously approved by Knology's directors, in consultation with a transaction committee and advisers Credit Suisse AG and Bank of America Merrill Lynch....
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