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) and currently hold any of those NASDAQ: ABCD shares have certain options and should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Cambium Learning Group
Case Name: 
Cambium Learning Group Deal Case
Case Status: 
Lawsuit Filed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Mergers and Acquisition

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.