Anaplan Investor Sues Over $10.4B Purchase By Thoma Bravo
By Leslie A. Pappas (June 23, 2022, 1:06 PM EDT) -- Business planning software company Anaplan Inc. was hit with a shareholder lawsuit in Delaware Chancery Court on Wednesday over a last-minute price reduction in its $10.4 billion acquisition by Thoma Bravo, the complaint being filed just hours before the private equity giant closed on the deal.
Florida-based ODS Capital LLC, an Anaplan Inc. shareholder, sued for access to the company's books, saying the merger price was too low and it needed to investigate "potential mismanagement and/or breaches of fiduciary duty" in connection with last-minute equity awards that might have jeopardized the deal.
ODS sued under Section 220 of Delaware's General Corporation...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!