Anaplan Ex-Leaders Beat Case Over $10 Billion Thoma Bravo Sale

Anaplan Inc.'s ex-leaders prevailed in court against claims they cost investors $400 million by giving themselves equity grants that jeopardized its roughly $10 billion sale to Thoma Bravo LP.

Former board members and top executives at the software company didn’t coerce investors into approving a revised transaction after they were forced back to the negotiating table by the excessive stock grants, which allegedly breached the sale agreement, a Delaware judge said.

“This case raises fascinating questions of fiduciary law,” but “they are not, however, questions I need to answer,” Vice Chancellor Nathan A. Cook said June 21. “Plaintiff’s claims must ...