Investor Balks At $285M Deal For Electronics Co. Issa Started

Law360, Miami (August 8, 2013, 3:57 PM EDT) -- A shareholder filed a putative class action in Florida state court last week claiming breach of fiduciary duty against DEI Holdings Inc. and its board of directors, including Rep. Darrell Issa, R-Calif., for an allegedly inadequate price in the $285 million sale to a private equity firm.

The suit filed Aug. 2 accuses the DEI board and its executives of conducting a process “riddled with conflicts of interests and inconsistencies” that directed the sale to Charlesbank Capital Partners LLC without adequately pursuing other bids and also...
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