Plaintiff Blasts Settlement Of Suit Over Rural/Metro Deal

Law360, New York (January 6, 2012, 6:40 PM EST) -- A shareholder plaintiff in a class action over Warburg Pincus’ $438 million acquisition of Rural/Metro Corp. is challenging a proposed settlement, saying lead counsel gave up valuable claims in return for worthless disclosures, according to court documents unsealed Thursday in Delaware.

In April, Rural/Metro shareholders alleged in a Delaware Chancery Court complaint that the private equity firm’s $17.25 per-share offer undervalued the medical transport company and resulted from a flawed process. The suit, like many of its ilk, was soon settled for additional disclosures on the...
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