Vista’s $1.25 Billion Deal for Model N Draws Shareholder Suit
- Investor asks judge to block PE firm’s buyout of cloud company
- ClearBridge Investments voiced opposition to deal in April
This article is for subscribers only.
Vista Equity Partners’ proposed $1.25 billion buyout of cloud revenue-management software company Model N has spurred a lawsuit by a shareholder seeking to block the deal.
Matthew Hamilton sued Model N as well as its directors and officers Thursday in New York, alleging breach of fiduciary duty. He claims the most recent proxy statement from the company was misleading and omitted details about benefits its executives have been promised by the private equity firm.