TripAdvisor Sued by Pension Fund Seeking Info on Restructuring

TripAdvisor Inc.'s proposed restructuring—amid a court fight over its bid to leave Delaware—looks like it’s about using investor cash to rescue its controlling stockholder, according to a lawsuit seeking information on the transaction.

A pension fund sued the travel business for internal files Tuesday, saying public disclosures about the reorganization suggest chairman Greg Maffei is trying to throw a lifeline to its struggling corporate parent, Liberty TripAdvisor Holdings Inc., which he allegedly controls. The deal, announced in December, would invert the hierarchy of the related entities, making Liberty the subsidiary and leaving TripAdvisor without a controlling stockholder, according ...