Shareholder Seeks To Ice $703M PE Buyout of Water Park Co.

Law360, New York (March 22, 2012, 9:35 PM EDT) -- A Great Wolf Resorts Inc. shareholder sued the company and its board members Thursday in Wisconsin federal court, in a putative class action seeking to block private equity firm Apollo Global Management LLC's $703 million buyout of the Madison, Wisc.-based water park chain.

Shareholder Broad Street Partners alleges Great Wolf, Apollo and the board members violated the Exchange Act by making misleading statements encouraging shareholders to approve the takeover bid. According to the complaint, the board members breached their duty of disclosure by not disclosing their...
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