Del. High Court Revives Suit Over KKR Insider Trading

Law360, New York (June 21, 2011, 10:01 PM EDT) -- The Delaware Supreme Court on Monday revived a long-running insider trading suit against executives of Primedia Inc. and majority shareholder Kohlberg Kravis Roberts & Co. LP over a deal to sell one of Primedia’s premier assets, American Baby Group.

Shareholders Linda Kahn and Alan Spiegal had alleged that KKR caught wind of the deal at a Primedia board meeting in 2002 and used that nonpublic information to buy up $75 million in the publisher’s preferred shares and eventually turned a $150 million profit.

The Delaware Court...
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