SurveyMonkey Parent Momentive Global Sued Over $1.5 Billion Sale

An investor sued SurveyMonkey parent Momentive Global Inc. over concerns that its leaders may have engineered an underpriced $1.5 billion buyout to escape activist pressure on terms favorable only to insiders.

The lawsuit—filed late Tuesday on the eve of a shareholder vote—seeks internal files to investigate allegations that the planned sale was arranged through a “flawed process” led by deal architects looking to advance “their own unique financial interests.”

The proposed sale to a consortium led by Symphony Technology Group was announced in March, about a year after Zendesk Inc. shareholders voted down a planned $4 billion acquisition of Momentive. ...