Tablet Maker Xplore Faces Shareholder Suit Over $90M Deal

Law360 (August 6, 2018, 8:02 PM EDT) -- An investor filed a proposed class action in Delaware federal court Saturday seeking to halt the estimated $90 million sale of tablet maker Xplore Technologies Corp. to Zebra Technologies Corp., claiming he needs more information about the transaction.

Xplore shareholder Amir Mencher filed a complaint against the company, Chairman of the Board Thomas B. Pickens III and four other board members claiming that information about financial projections including cash flow and the amount to be paid to a financial adviser were omitted from the statement seeking shareholder approval for the tender offer transaction.

“The failure to disclose this information prevents Xplore shareholders...

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Delaware

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Securities/Commodities

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Date Filed

August 4, 2018

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