Deals
InfoGroup to Pay $13 Million to Settle Suit Over Buyout
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InfoGroup Inc. agreed to pay $13 million to resolve investors’ claims that directors sold the database-marketing company on the cheap to bail out founder Vinod Gupta, a former financial backer of Bill Clinton.
InfoGroup will hand over $13 million from insurance to settle the class-action lawsuit brought by the New Jersey Carpenters Pension Fund, according to a Delaware Chancery Court filing. Gupta browbeat InfoGroup’s board into selling the company to CCMP Capital Advisors LLC for $463 million, shortchanging investors, the fund said.