infoGROUP, Inc. (Delaware Court of Chancery)
Summary of Case:
A securities class action has been filed against infoGROUP, Inc. (Delaware Court of Chancery) (IUSA) ("infoGROUP" or the "Company") on behalf of all purchasers of infoGROUP common stock.
The complaint alleges that the proposed acquisition of all of the publicly owned shares of Company common stock at the unfair price of $8.00 per share (the "Proposed Buyout"), which is 2% below the market price of $8.16 per share prior to the announcement of the Proposed Buyout and below the Company's enterprise value; and on egregious, unfair, and inadequate terms by private equity firm CCMP Capital Advisors LLC, holding company Omaha Holdco Inc., and Omaha Acquisition Inc.
The complaint alleges that the Proposed Buyout offers unfair and inadequate consideration that does not constitute a maximization of stockholder value for Plaintiff and other infoGROUP public stockholders and is being advanced through an unfair process. Defendants have therefore breached their fiduciary duties owed to Plaintiff and the Class to take all necessary steps to ensure that infoGROUP's stockholders will receive the maximum realizable value for their shares on a sale of the Company.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.