General Atlantic LP is facing more shareholder litigation challenging agreements that give the private equity firm the right to veto the choice of CEO by certain businesses it invests in.
The proposed class action, filed Wednesday, targets General Atlantic’s stockholder agreement with HireRight Holdings Corp., which performs employment-related background checks. The lawsuit is the latest in a wave taking aim at provisions in corporate charters, bylaws, or contracts that give a company’s backers control over the identity of its chief executive, the right to block a sale, or some level of authority over other matters traditionally overseen by boards ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.