Valassis Investor Tries To Sink $1.8B Harland Clarke Deal

Law360, Wilmington (January 13, 2014, 11:00 PM ET) -- A Valassis Communications Inc. investor launched a putative class action Monday aimed at halting the planned $1.84 billion takeover by Harland Clarke Holdings Corp., claiming that shareholders have been kept in the dark about the nature of the negotiations and the media company's true value.

Filed in Delaware Chancery Court by a Louisiana retirement fund, the complaint contends that Valassis directors breached their fiduciary duty by arranging a deal designed to deliver the company to Harland Clarke at an unfair price.

The suit alleges that Valassis...
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