EasyLink Investor Cries Foul On $232M Buyout Deal

Law360, New York (May 9, 2012, 4:49 PM EDT) -- An EasyLink Services International Corp. investor launched a proposed class action Tuesday aimed at stopping its recently announced $232 million takeover by Open Text Corp., claiming the company's directors accepted a paltry price for the growing tech firm. 

The complaint, filed in Delaware Chancery Court, claimed EasyLink's directors had failed their fiduciary duties by underselling the business messaging and transaction services company. The investors further asked the court to enjoin the transaction.

Georgia-based EasyLink announced May 1 that it had agreed to be acquired by Canadian...
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