GeoEye Investor Challenges $900M DigitalGlobe Buyout

Law360, New York (July 27, 2012, 3:55 PM EDT) -- Just days after Colorado geospatial imaging firm DigitalGlobe Inc. plunked down $900 million for rival GeoEye Inc., a shareholder of the target company filed suit on Thursday, accusing the corporations and GeoEye’s board of lowballing shareholders and essentially shutting the door to higher bids.

“The proposed transaction is the product of a fundamentally flawed process that is designed to ensure the acquisition of GeoEye by DigitalGlobe on terms preferential to DigitalGlobe and GeoEye’s board members, but detrimental to plaintiff and other public stockholders of GeoEye,” Colorado...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

IN RE GEOEYE, INC., SHAREHOLDER LITIGATION


Case Number

1:12-cv-00826

Court

Virginia Eastern

Nature of Suit

Stockholders Suits

Judge

Claude M. Hilton

Date Filed

July 26, 2012

Law Firms

Companies

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.