Good Tech Investors Seek To Block $425M BlackBerry Deal
Law360, Wilmington (October 13, 2015, 9:09 PM EDT) -- Investors hit the board of directors of Good Technology Corp. with a shareholder class action in Delaware state court on Monday that seeks to block BlackBerry Ltd.’s $425 million acquisition of the mobile security provider, saying the deal significantly undervalues the company.
The suit comes in the wake of BlackBerry’s September announcement of an all-cash deal to acquire California-based Good Technology, the latest in an acquisitions spree with key buys of security- and privacy-focused assets.
According to the suit, the BlackBerry deal is being driven solely by the self interests of several venture capital firms that control Good Technology and its...
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