Knology, Inc. (Nasdaq: KNOL) shareholder litigation in connection with alleged unfair takeover offer
On April 18, 2012, Knology, Inc. ("Knology" or the "Company") announced that it has agreed to sell the Company to WOW! Internet, Cable & Phone. Under the terms of the agreement, Knology shareholders will receive $19.75 for each share of Knology stock they own. The transaction has a total approximate value of $1.5 billion.
The investigation concerns whether the Knology Board of Directors breached their fiduciary duties to Knology stockholders by failing to adequately shop the Company before entering into this transaction and whether WOW! Internet, Cable & Phone is underpaying for Knology shares, thus unlawfully harming Knology stockholders.