Presidio, BC Partners, LionTree End Buyout Case for $22 Million

Presidio Inc., its CEO, its backers at BC Partners Advisors LP, and its financial advisers at LionTree Advisors LLC will pay $21.6 million to end litigation over the company’s $2.2 billion take-private acquisition from Apollo Global Management Inc., according to court filings in Delaware.

The class action settlement, disclosed Monday in Delaware’s Chancery Court, will be paid by Presidio, CEO Bob Cagnazzi, BC Partners, LionTree, and their insurers to eligible investors, including the Firefighters’ Pension System of the City of Kansas City, Mo., Trust, which led the case.

The lawsuit, filed in 2019, accused LionTree of tipping off BC ...