Medley Capital's Investors Want Records On Proposed Merger
Law360 (January 11, 2019, 7:42 PM EST) -- Investment adviser FrontFour Capital Group LLC filed a complaint Friday in Delaware Chancery Court against Medley Capital Corporation in an effort to investigate possible corporate wrongdoing in connection with a proposed merger involving two other asset management businesses, claiming the proposed transaction does not maximize value for MCC stockholders.
FrontFour, which along with its affiliates owns roughly 4 percent of MCC’s common stock, wants access to MCC’s records to determine if there have been breaches of fiduciary duty in connection with a deal announced in August through which MCC will merge with Sierra Income Corporation, with SIC as the surviving company....
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