KKR Can't Dodge Investor Suit Over $525M Primedia Sale

Law360, Chicago (May 10, 2013, 10:31 PM ET) -- Private equity firm  KKR & Co. LP must face a class action alleging its $525 million sale of Primedia Inc. in 2011 was unfair to the publisher’s minority investors because it shielded KKR from a potentially valuable insider trading claim, a Delaware judge ruled on Friday.

In a 73-page opinion, Vice Chancellor J. Travis Laster declined to dismiss the central allegation in the suit, finding that the Primedia shareholders may have lost out on a viable $80 million claim against KKR when it sold the publisher...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required