Squarespace Inc.'s founder and private equity backers may have steered it into an underpriced $7.2 billion take-private buyout that favors insiders standing on both sides of the deal, according to a preliminary shareholder lawsuit.
A pension fund is suing the software company for internal documents, pointing to concerns about the fairness of the two-part sale to a consortium led by Permira Advisers LLC. The second stage of the transaction—a short-form merger squeezing out the public investors remaining after a $46.50-per-share tender offer—is expected to close by Oct. 17.
The suit, filed Oct. 10 in Delaware’s Chancery Court, says ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.