KKR Can't Dodge Investor Suit Over $525M Primedia Sale

Law360, Chicago (May 10, 2013, 10:31 PM EDT) -- Private equity firm  KKR & Co. LP must face a class action alleging its $525 million sale of Primedia Inc. in 2011 was unfair to the publisher’s minority investors because it shielded KKR from a potentially valuable insider trading claim, a Delaware judge ruled on Friday.

In a 73-page opinion, Vice Chancellor J. Travis Laster declined to dismiss the central allegation in the suit, finding that the Primedia shareholders may have lost out on a viable $80 million claim against KKR when it sold the publisher...
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