Midas Shareholder Sues To Halt $310M Sale To TBC Corp.

Law360, New York (March 21, 2012, 3:54 PM EDT) -- Auto-repair giant Midas Inc. relied on conflicted advice and undervalued the company when it agreed this month to be acquired for $310 million, according to a proposed class action filed Wednesday in Delaware Chancery Court.

Shareholder Glenn Freedman calls the terms "fundamentally unfair" and asks the court to block the transaction or, in the event it goes through, award damages to allegedly shortchanged investors.

Midas this month announced it would merge with TBC Corp., one of the nation’s largest marketers of automobile tires, in a $310...
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