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Monday, February 17, 2020

Capella Education Co. stockholder files suit over registration statement

By Noddy A. Fernandez | Dec 13, 2017

General court 09

MINNEAPOLIS (Legal Newsline) – A stockholder alleges that a Minneapolis corporation filed a false registration statement in connection with a merger.

Adam Franchi, individually and on behalf of all others similarly situated filed a complaint on Nov. 30 in the U.S. District Court for the District of Minnesota against Capella Education Co., David W. Smith, Rita D. Brogley, et al. for alleged violation of the Securities Exchange Act of 1934.

According to the complaint, the plaintiff alleges that on Nov. 20, defendants filed a Form S-4 Registration Statement with the U.S. Securities and Exchange Commission in connection with a merger agreement with Strayer Education. The plaintiff claims the registration omitted financial information and this makes the statement false and misleading.

The plaintiff requests a trial by jury and seeks to preliminary and permanently enjoin the proposed transaction, award of costs, attorneys' fees and grant such other and further relief as the court deem just and proper. He is represented by Adam Altman and Douglas B. Altman of Altman & Izek in Minneapolis, Minnesota.

U.S. District Court for the District of Minnesota case number 0:17-cv-05288-JRT-DTS

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U.S. District Court for the District of MinnesotaAltman & Izek