Private investors seeking to recoup some of the $225 million they paid for web hosting company Liquid Web may proceed with a $15 million claim for misstated revenue, the Delaware Chancery Court ruled.
Private equity funds managed by Madison Dearborn Partners LLC acquired Liquid Web and an associated real estate holding company from founders Matthew J. and Gregg H. Hill in a cash purchase in 2015, according to the court. The funds created an entity called LW Buyer LLC to buy the company from the Hills, the court said in an opinion by Vice Chancellor Morgan T. Zurn.
LW Buyer ...
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