BrightPoint Gave Shoddy Info Ahead Of $840M Sale, Suit Says

Law360, New York (July 25, 2012, 3:29 PM EDT) -- A BrightPoint Inc. shareholder lodged a proposed class action against the wireless device distributor Tuesday, saying it violated U.S. Securities and Exchange Commission rules by leaving pivotal information out of a proxy statement ahead of its proposed $840 million sale to Ingram Micro Inc.

Investor Robert Collier asked an Indiana federal judge to block the buy, saying the proxy statement BrightPoint delivered to its shareholders July 19 was “replete with material omissions and misstatements,” including about its board members' roles within the new company and the...
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