$1.1B Buyout Undervalues M*Modal, Shareholder Claims

Law360, Wilmington (July 06, 2012, 7:38 PM ET) -- An M*Modal Inc. investor launched a putative class action Friday aimed at the medical transcription company's directors, claiming they harmed shareholders and benefited themselves by agreeing to a $1.1 billion takeover bid from JPMorgan Chase & Co.'s private equity arm.

Announced July 2, the offer from One Equity Partners LLC has the blessing of M*Modal's board and the investment funds affiliated with S.A.C. Private Capital Group LLC, which own approximately 31 percent of the company's outstanding shares and have agreed to tender into the offer....
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