Two Squarespace Inc. shareholders agreed to dismiss their suit alleging the website-building platform may have breached its fiduciary duty connected to a $7.2 billion merger agreement with affiliates of Permira Advisers LLC.
Nathan Gross and Stephanie Smith dropped their “books and record” suit that demanded to see Squarespace documents they believed might corroborate their allegations of the potential breaches by the company’s board of directors or senior executives in connection with the buyout. The pair filed their voluntary dismissal without prejudice in the Delaware Chancery Court on Tuesday, giving them the option to refile at a later date.
- The merger ...
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