SharpSpring Settles Investor Suits Challenging $240 Million Sale

SharpSpring Inc. and its senior leaders at the time of its $240 million sale to Constant Contact Inc. have agreed to pay $4.6 million to end litigation challenging the transaction.

The agreement, submitted Thursday, would resolve parallel shareholder lawsuits filed in Delaware’s Chancery Court in 2023 and a Florida federal court in 2021. The accord requires the approval of Chancellor Kathaleen St. J. McCormick—the Delaware court’s chief judge—at which point the investor leading the Florida case would also drop that suit, according to settlement filings.

The proposed class actions said SharpSpring’s CEO, chief financial officer, and four other board ...