JDA Software Investor Challenges $1.9B RedPrairie Buyout

Law360, Wilmington (November 21, 2012, 2:22 PM EST) -- A JDA Software Group Inc. shareholder launched a putative class action Tuesday alleging the company’s board rushed into RedPrairie Corp.’s $1.9 billion private equity-backed buyout, ignoring conflicts of interest and shortchanging investors in the process.

JDA’s board breached their duty to shareholders by agreeing to RedPrairie’s “unfair” $45 per-share offer while other potential bidders were in the middle of due diligence or “clamoring” to enter the process, according to a complaint filed by Tammy Neuman in Delaware Chancery Court.

“The proposed acquisition is the product of...
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