$253M Telular Sale To Avista Is Too Cheap, Investor Claims

Law360, New York (May 3, 2013, 2:30 PM EDT) -- Security system and supply chain parts maker Telular was hit with a putative investor class action Thursday that claims the proposed $253 million sale to private equity firm Avista Capital Partners undervalues the company by up to 47 percent.

Shareholder John Nicholas filed the lawsuit in the Circuit Court of Cook County, Illinois, where Telular is based, and included several company executives in his complaint, accusing them of breaching their fiduciary duties by overseeing an ”unfair sale” and “unfair process.”

“Rather than acting in the best...
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