Former Anaplan Inc. investors filed two Delaware lawsuits over concerns that company leaders drove down the price of its $10.4 billion take-private buyout by Thoma Bravo LP, which closed Wednesday, by recklessly overpaying themselves before the transaction.
The suits seek internal files to investigate suspicions that Anaplan’s board cost shareholders $400 million in overall value by issuing awards worth $137 million—$32 million higher than the merger agreement authorized—and offering no protest when the private equity firm lowered the deal price disproportionately.
The “alarming” grants to senior executives reflected both the company’s “equity award refresh cycle” and about $50 million for ...
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