Kohlberg Ventures Win Over Akademos Buyout Challenge Upheld (1)

Kohlberg Ventures LLC‘s victory over a challenge from the founder of Akademos Inc. to the education technology company’s buyout has been upheld by the Delaware Supreme Court.

“The transaction was entirely fair to the Akademos common stockholders,” Chief Justice Collins J. Seitz Jr. said in a five-page order issued Monday for the court’s full five-member panel.

Founder Brian Jacobs’ attorney argued June 18 that the Delaware Chancery Court didn’t properly evaluate whether the buyout’s price, or the process through which it was determined, were entirely fair. Kohlberg’s attorney countered that Jacobs’ appeal didn’t challenge the Delaware Chancery Court’s finding ...