TNS Investors Settle Suit Over $862M Sale To Siris

Law360, Los Angeles (July 9, 2013, 5:53 PM EDT) -- A New York state judge Monday approved a settlement in a shareholder class action brought by Broadway Capital earlier this year against TNS Inc. and private equity firm Siris Capital Group LLC, claiming that Siris' $862 million acquisition of TNS dramatically undervalued the telecommunications company.

Broadway Capital, which filed suit in January, said TNS CEO Henry Graham and other senior executives at the company made a deal with Siris that undervalued the telecommunications firm in return for lucrative compensation packages and other perks. The settlement agreement,...
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