Silver Lake’s $1.7 Billion Zuora Deal Draws Investor Challenge

Silver Lake LLC faces litigation targeting its $1.7 billion acquisition of Zuora Inc., part of a buying spree that has made the private equity firm one of the world’s most closely watched dealmakers.

A Zuora investor sued Silver Lake on Wednesday, initiating a formal challenge to a transaction that’s already been the focus of two rounds of preliminary litigation in Delaware’s Chancery Court. Though the lawsuit by Meteora Capital LLC was submitted under seal, a related public filing says it’s a proposed shareholder class action seeking damages from Silver Lake and the software company’s founder, Tien Tzuo.

The ...