A former SharpSpring Inc. investor sued its onetime senior leaders, claiming they engineered its $240 million sale to Constant Contact Inc. on terms that benefited only insiders.
The 82-page lawsuit targets SharpSpring ex-CEO Richard Carlson, the company’s former chief financial officer, and four other board members at the time of the transaction. It accuses Carlson of orchestrating a deal that prioritized transaction-related bonuses for top executives—rather than the overall sale price—while the board ran interference for him.
Deal-related regulatory filings tell “a farcical tale that is nowhere close to what the contemporaneous record reflects,” according to the proposed class action. ...
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