Shareholder Blasts $685M Learning Co. Sale As Unfair
Law360 (November 28, 2018, 10:10 PM EST) -- A Cambium Learning Group Inc. stockholder is seeking to halt a planned sale of the educational products company to Veritas Capital, saying in a proposed class action filed Tuesday in Texas federal court that the proposed $685.2 million deal is not in the best interests of minority shareholders.
Eric Strahan said in his complaint that the deal would give Cambium's board of directors and its majority owner, Veronis Suhler Stevenson, a private investment firm that specializes in educational technology companies, outsized profit at the expense of minority shareholders because they can save money by selling two companies at the same time....
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