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...

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