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According to the complaint, the all-stock deal was riddled with conflicts and designed to protect KKR & Co. Inc., First Data's controlling shareholder, which took the company private in 2007 in one of the largest leveraged buyouts ever.
April 04, 2019 at 03:44 PM
1 minute read
An investor in First Data Corp. on Wednesday filed a shareholder class action in Delaware Chancery Court claiming that the credit card service firm’s $22 billion sale to Fiserv Inc. earlier this year had shortchanged investors.
According to the complaint, the all-stock deal was riddled with conflicts and designed to protect KKR & Co. Inc., First Data’s controlling shareholder, which took the company private in 2007 in one of the largest leveraged buyouts ever.
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