Advisors In $1.5B Knology Deal Had Conflict Of Interest: Suit

Law360, Wilmington (June 5, 2012, 3:54 PM EDT) -- A Knology Inc. investor launched a putative class action in Delaware court Monday alleging the cable provider's board shortchanged shareholders by enlisting financial advisers whose conflicted interests led directors to accept an undervalued $1.5 billion takeover bid.

The sale to WOW Internet, Cable & Phone — a subsidiary of Avista Capital Partners — for $750 million cash plus debt was announced in April and unanimously approved by Knology's directors, in consultation with a transaction committee and advisers Credit Suisse AG and Bank of America Merrill Lynch....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.