Shareholder Says $242M Price For Double-Take Too Low

Law360, New York (June 17, 2010, 2:54 PM EDT) -- A Double-Take Software Inc. shareholder has lodged a class action seeking to block the data recovery firm's proposed $242 million sale to Vision Solutions Inc., saying the sale price is too low and the terms of the deal are unfair.

Ian Wyer's complaint, lodged Wednesday in the Delaware Chancery Court, claims that six individual defendants, including Double-Take CEO Dean Goodermote, breached their fiduciary duty to shareholders in agreeing to go ahead with a transaction that values the Southborough, Mass.-based target firm at $10.55 per share....
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