Pluralsight Investors Sue To Block $3.5B Go-Private Sale
Law360 (January 19, 2021, 9:46 PM EST) -- Minority investors in online professional education venture Pluralsight Inc. opened a proposed class suit in Delaware's Chancery Court on Tuesday to block a $3.5 billion go-private sale to Vista Equity Partners.
The four-count complaint cited a purportedly unfair price, allegedly accepted by the board in a deal the suit said offered sizable benefits for most board members while relying on an initially undisclosed pre-deal agreement to keep the company's founder and majority shareholder in place as CEO.
According to the complaint, filed under the name of proposed class leader Ian Pullan, Vista and Pluralsight CEO Aaron Skonnard allegedly agreed in advance...
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