Software Co. Investor Sues To Block $74M Salient Deal

Law360, Wilmington (March 5, 2012, 8:14 PM EST) -- An ATS Corp. shareholder launched a class action in Delaware on Friday to halt government contractor Salient Federal Solutions Inc.’s $73.5 million acquisition of the software company, saying the ATS board stiffed investors by ignoring better offers.

Before announcing the deal Feb. 21, McLean, Va.-based ATS received two bids topping Salient’s $3.20-per-share offer, according to a complaint filed by Stourbridge Investments LLC. But, at the urging of a conflicted financial adviser, Sagent Advisors Inc., the ATS board pushed the Salient deal through, the suit said....
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