Investors Sue To Block $2.3B Gov't Tech Services Merger
Law360 (March 5, 2021, 10:25 PM EST) -- Shareholders in digital government services company NIC Inc. are seeking to block a $2.3 billion merger with software provider Tyler Technologies Inc. from going ahead, claiming the company's board of directors misled investors, according to two suits in Delaware federal court.
In a pair of complaints filed Wednesday and Thursday, NIC Inc. investors Shiva Stein and David Starks allege that the company's board of directors failed to disclose important financial information in a proxy statement announcing NIC's planned merger with Texas-based Tyler last month.
The shareholders claim that the statement — which they say was filed with the U.S. Securities and...
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