BioClinica Investors Lose Bid To Block $123M PE Takeover

Law360, Wilmington (October 16, 2013, 8:55 PM EDT) -- A Delaware Chancery judge threw out a shareholder lawsuit Wednesday challenging the $123 million takeover of clinical research company BioClinica Inc. by private equity firm JLL Partners Inc., ruling the investors failed to state any plausible claims.

Vice Chancellor Sam Glasscock III wrote in a 31-page opinion that the shareholders claims that BioClinica's board breached their fiduciary duties by approving a deal in an unfair process and an unfair price never state a reasonably conceivable set of facts that would allow the investors to win the...
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