CORRECTED: KFN Hit With Shareholder Suit Over $2.6B Deal

Law360, New York (February 4, 2014, 4:39 PM EST) -- KKR Financial Holdings LLC and several of its executives were slapped with a putative class action in California federal court Friday over the $2.6 billion sale of the company, or KFN, to KKR & Co. LLP, in which KFN allegedly used an unfair process to make the deal, harming stockholders.

Gary Bushey's complaint alleges that KFN and some of its executives breached their fiduciary duties by knowingly making a deal that was unfair to stockholders. The complaint says the deal deprives stockholders of the ability to...
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