Investor Dropping Bid To Invalidate $1.9B Mindbody Deal

Law360 (May 8, 2020, 7:20 PM EDT) -- An investor will drop his bid to invalidate the $1.9 billion go-private acquisition of Mindbody Inc. per the terms of a proposed settlement filed with the Delaware Chancery Court, as a consolidated action over the fairness of the deal rages on.

Under a proposed stipulated settlement submitted with the court late Thursday, investor Philip Ryan Jr. is set to drop his bid for the court to void the take-private acquisition of the wellness industry payment software provider by Vista Equity Partners Management LLC finalized last year.

As part of the deal, Ryan will release claims in his proposed class action that...

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