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Cambium Learning Group, Inc. (NASDAQ: ABCD) Investor Lawsuit Over Possible Breaches Of Fiduciary Duties In Acquisition Announced

  • Investors who purchased shares of Cambium Learning Group, Inc. (NASDAQ: ABCD) may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Cambium Learning Group, Inc.
Security
NASDAQ: ABCD

Case Name
Cambium Learning Group Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the Northern District of Texas

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Summary

February 13, 2019 - The case was voluntarily dismissed.

November 27, 2018 - An investor, who currently holds shares of Cambium Learning Group, Inc. (NASDAQ: ABCD), filed a lawsuit against the takeover of Cambium Learning Group, Inc. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ABCD stockholders by agreeing to sell Cambium Learning Group, Inc. cheaply via an unfair process.

On October 15, 2018, Cambium Learning Group, Inc. (Nasdaq: ABCD) announced that it has entered into a merger agreement with certain affiliates of Veritas Capital, a leading private equity investment firm, for the acquisition of the Company. Pursuant to the terms of the merger agreement, the holders of common stock of the Company currently outstanding are entitled to receive $14.50 in cash per share at the closing.

However, plaintiff claims that the proposed consideration NASDAQ: ABCD shareholders will receive is grossly inadequate and undervalues Cambium Learning Group. In addition, the plaintiff alleges that the process is also unfair NASDAQ: ABCD stockholders.