Sealy Board, KKR Again Sued Over $1.3B Tempur-Pedic Deal

Law360, New York (October 17, 2012, 10:39 PM EDT) -- Mattress maker Sealy Corp.’s board was hit Wednesday by another proposed class action filed by a disgruntled investor who claims Tempur-Pedic International Inc.'s $1.3 billion bid, approved by Sealy's directors and largest shareholder KKR & Co. LLP, stiffed its other shareholders out of a better deal.

In a complaint filed in Delaware state court, Sealy shareholder Curtis Nall accused the company, its board, Tempur-Pedic and private equity giant KKR of negotiating a deal that undervalues the company, but offers KKR a 35 percent gain and allows...
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