Rural/Metro Board Reaches $6.6M Deal To Settle Buyout Claims

Law360, Wilmington (April 30, 2013, 9:26 PM EDT) -- Rural/Metro Corp. and its directors have agreed to pay former shareholders $6.6 million to resolve class claims over the board's role in approving an allegedly undervalued $438 million private equity-backed buyout of the medical transport company in 2011, according to a letter filed Tuesday in Delaware Chancery Court.

In exchange for the payment, Rural/Metro and its six-member board would receive a general release from the class and the claims against them would be dismissed with prejudice, according to a term sheet which accompanied the letter from...
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