August 2017

Public Company Defeats Shareholder Litigation Over Buyout

United States - Minnesota

Board members of a large public company defeated a proposed shareholder class action alleging the company's $2.8 billion private equity buyout undervalued the company. Faegre Baker Daniels represented the independent board members in the action. 

In 2017, a federal judge dismissed the claims, rejecting the plaintiffs' assertion that the board of directors breached their fiduciary duty by agreeing to the transaction.

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