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Mobile Ad Firm Investor Sues To Nullify $34M Merger

Law360 (May 18, 2018, 8:08 PM EDT) -- A common stockholder of Mobile Posse Inc. filed suit Friday in Delaware Chancery Court to void the mobile advertising technology firm's $33.8 million merger with a company that allegedly has deep ties to the directors of Mobile Posse and its preferred shareholders.

In the complaint, stockholder and former employee Anurag Mehta alleges the proposed merger with ACME Mobile LLC should be dropped because Mobile Posse’s board is self-interested in the deal and failed to comply with multiple facets of the Delaware General Corporation Law in pursuit of...
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