Air Lease Investor Sues Over $7.4 Billion Take-Private Deal

Air Lease Corp.‘s planned sale requires further disclosures of financial projections and potential conflicts of interest, a lawsuit seeking to hold up the deal said.

Chairman Steven F. Udvar-Házy, CEO John L. Plueger, and other board members could have a huge payday through the $7.4 billion takeover, without similar benefits to public stockholders, said the complaint filed in the US District Court for the Central District of California on Thursday.

Corporate insiders own large amounts of shares, RSUs, and PSUs, some of which will be exchanged in the transaction. Udvar-Házy, for example, beneficially owns almost 5.89 million shares, not ...