Late yesterday, the Lockridge Grindal & Nauen law firm, in conjunction with the New York law firm of Levi & Korsinsky filed a putative class action complaint in Ramsey County District Court (St. Paul) in connection with the recently announced sale of Lawson Software.
Late yesterday, the Lockridge Grindal & Nauen law firm, in conjunction with the New York law firm of Levi & Korsinsky filed a putative class action complaint in Hennepin County District Court (Minneapolis) in connection with the recently announced sale of American Medical Systems.
From the plaintiffs’ lawyers perspective, these are both cases where management and corporate boards seem intent on selling their companies for a fraction of their worth. On its face, something seems counter-intuitive there. On the other hand, in both cases, the announced deals included “no shop” provisions and other (arguable) limitations to “getting the best price” (among other potential problems related to the buying/selling process) which (again from the plaintiffs’ perspective) may raise serious questions.