Zuora Sued by Investor for $1.7 Billion Silver Lake Deal Files

Zuora Inc.'s founder likely engineered an underpriced $1.7 billion sale to Silver Lake for self-dealing reasons, according to a shareholder lawsuit seeking information about the transaction.

Philadelphia’s public transport agency sued the software company for documents Thursday, saying public disclosures suggest chairman Tien Tzuo worked with the private equity giant behind the scenes on a deal that prioritized unique perks for himself over maximizing the price for public investors. The side benefits include Tien’s continued service as CEO and deal terms rolling over most of his equity, which placed him on both sides of the transaction, the suit says.

The ...