Investor Sues To Halt Genstar's $400M Buy Of Research Co.

Law360, Wilmington (April 12, 2012, 7:17 PM EDT) -- An eResearch Technology Inc. shareholder moved Wednesday to block Genstar Capital LLC's $400 million bid for the biopharmaceutical research provider with a class action alleging the offer is inadequate and tainted by a board member's conflict of interest.

ERT investor Karen Kung alleges in a Delaware Chancery Court complaint that the company’s directors violated their duty to shareholders by approving a lowball $8 per-share offer from the private equity firm despite ERT’s rosy prospects.

“ERT, if properly exposed to the market for corporate control, would bring...
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