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InfoGROUP, Inc. Securities Litigation
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InfoGROUP, Inc. (NasdaqGS: IUSA) shareholder litigation in connection
with alleged unfair takeover offer
On March 8, 2010, it was reported that InfoGROUP, Inc. (“InfoGROUP” or
the “Company”) agreed to sell the Company to CCMP Capital, a private
equity firm, for approximately $460 million. Based on the number
outstanding shares of InfoGROUP stock, the transaction values
InfoGROUP stock at approximately $8.00 per share.
The investigation concerns whether the InfoGROUP Board of Directors
breached their fiduciary duties to InfoGROUP shareholders given that the
offer price is less than the $8.99 per share that InfoGROUP traded at as
recently as November 10, 2009 and at least one analyst set a price target
for InfoGROUP stock at $10.00 per share.