Duff & Phelps Investor Sues Over $665M Sale To Carlyle

Law360, New York (January 16, 2013, 4:27 PM EST) -- A shareholder of New York-based financial services and investment banking firm Duff & Phelps Corp. launched a putative class action in New York state court Tuesday over the company’s proposed $665 million sale to a private equity consortium led by The Carlyle Group LP, saying the deal shortchanges investors.

Proposed lead plaintiff Thomas Rutkowski accused Duff & Phelps’ board of breaching their fiduciary duty to investors by taking the offer, which he says undervalues the company and prevents most shareholders from gaining a stake in the...
To view the full article, register now.