Archipelago Investor Calls $291M Sale To Plato 'Tainted'

Law360, New York (March 29, 2012, 2:47 PM EDT) -- An Archipelago Learning Inc. stockholder filed a class action Wednesday accusing the educational software maker's CEO and private equity investors of being conflicted and failing to protect minority stakeholders in Archipelago's proposed $291 million sale to Plato Learning Inc.

The proposed transaction is “the result of a flawed process tainted with conflicts of interest” that undervalue Archipelago and enrich chairman, CEO and president Tim McEwen as well as Providence Equity Partners V LP, Archipelago shareholder Len Gostkowski's lawsuit, filed in the Delaware Chancery Court, argues....
To view the full article, register now.