Mergers & Antitrust Law News

Las Vegas Ticketing Company Accuses Hedge Fund of Boardroom Plot

June 22, 2020, 7:38 PM

Tix Corp., a leading discount seller of tickets to Las Vegas attractions, sued HSB Capital Partners LP in Delaware Monday, claiming the hedge fund is secretly plotting a takeover, despite its pledge not to challenge the company’s ownership or leadership.

The Chancery Court complaint accuses HSB of violating a standstill agreement it signed as part of a negotiated deal that gave the activist fund three of Tix’s seven directorships when it dropped its board takeover bid last year.

HSB violated the standstill “by repeatedly threatening the company’s directors with lawsuits, personal liability,” and termination, the lawsuit says, “and seeking to...

To read the full article log in. To learn more about a subscription click here.