An unnamed investor in Kayak shares is filing a class-action lawsuit to stop the proposed buyout of Kayak by Priceline at a value of approximately $40 per KYAK share, according to San Diego-based investor advocacy group Shareholders Foundation.
It’s not uncommon for billion-dollar acquisitions to draw shareholder suits, which rarely scuttle transactions. The Kayak/Priceline transaction is valued at $1.8 billion.
A law firm specializing in shareholder lawsuits, Powers Taylor of Dallas, had been attempting to find investors who might be harmed by the acquisition, but declined to issue a statement. Ditto for The Briscoe Law Firm, another such firm in Texas.
Read full story at: http://www.tnooz.com/2012/11/19/news/kayak-and-priceline-acquisition-attracts-a-class-action-lawsuit/
