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Epicor Investor Sues Over $976M Private Equity Buyout

Law360 (April 12, 2011, 8:23 PM EDT) -- An Epicor Software Corp. shareholder filed a proposed class action in Delaware state court on Tuesday challenging Apax Partners LP’s $976 million buyout bid for the software company, saying the deal shortchanges shareholders.

Apax’s $12.50 per share offer does not factor in Epicor’s recent financial success and is locked in by burdensome deal protections, according to a complaint lodged by the Field Family Trust in the Delaware Court of Chancery.

“The proposed transaction is opportunistic and comes at a time when the long-term prospects of the...
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