Comforce Shareholder Sues To Bar $85M ABRY Bid

Law360, New York (November 19, 2010, 2:45 PM EST) -- A former executive of Comforce Corp. has filed a proposed class action accusing the staffing company of shortchanging shareholders in agreeing to an $84.8 million merger deal with private equity firm ABRY Partners LLC.

Austin A. Iodice, who served as CEO of Comforce in the early 1990s when the company was in the jewelry business, filed the suit Wednesday in Delaware Chancery Court against Comforce, ABRY and six Comforce directors.

The suit claims that ABRY's offer to purchase Comforce for $2.50 a share is unfair to...
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