Interclick Shareholders Sue Over $270M Yahoo Deal

Law360, New York (November 9, 2011, 10:08 PM EST) -- An Interclick Inc. shareholder launched a putative class action against the online advertising technology company Tuesday over its proposed $270 million sale to Yahoo Inc., claiming the sale price doesn't represent Interclick's true value.

In his complaint, shareholder Sam Elghanian alleged that New York-based Interclick's board of directors settled for a lower price in exchange for secured positions for some of its executives if the transaction is approved, ignoring its fiduciary duty to its shareholders to negotiate the highest price possible.

"Based on Interclick's recent financial...
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