Edgar Online Investor Says $70M Buyout Deal Out Of Line

Law360, Wilmington (May 29, 2012, 9:23 PM EDT) -- An Edgar Online Inc. investor launched a putative class action in Delaware court Tuesday aimed at halting the financial data firm's $70 million acquisition by R.R. Donnelley & Sons Co., claiming Edgar's board used poor practices to reach a poor bargain.

Announced May 22, the deal is valued at about $70.5 million and includes cash for Edgar's shares of common and preferred stock, as well as the assumption of debt.

The suit accuses Edgar's eight-man board, including President and CEO Robert J. Farrell, of breaching its...
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