Software Co. Founders Say Vista Reneged On Deal

Law360, New York (May 4, 2011, 4:04 PM EDT) -- The founders of a small human resources software company on Monday sued Vista Equity Partners LLC in New York, claiming the private equity firm made promises about a post-sale reseller agreement it never intended to keep in order to lower the sale price.

According to the state court complaint, the founders of Softscape Inc. — Henry Watkins and his sons David and Richard — agreed to lower the price of their company by nearly $15 million and make other concessions on the grounds that Vista would...
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