VMware, Dell Hit With Chancery Suit Over $2.7B Pivotal Deal
By Rose Krebs (June 10, 2020, 6:09 PM EDT) -- A former Pivotal Software Inc. stockholder has filed a proposed class action in Delaware Chancery Court alleging controlling shareholders Dell and VMware "exploited" their positions to push through an "unfair" deal by which Pivotal was acquired for $2.7 billion by VMware last year.
In a suit made public late Tuesday, Kenia Lopez alleges Dell Technologies Inc., VMware Inc., Dell CEO Michael S. Dell, Pivotal CEO Robert C. Mee and a former Pivotal executive breached their fiduciary duty or aided and abetted such breaches in connection with the merger of the two cloud-based software providers. In a December announcement of the deal's...
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