Here is a quick lead to one of the aquisitions Sankaty Advisors LLC did in 2009: Airvana. There appears an ongoing shareholders lawsuit that I am unable to find any info on. I hope someone is able to find more info on this case.
In December 2009, four private equity firms including Sankaty Advisors LLC bought out a small mobile software company Airvana for $530M. But immediately there were questions raised on how the deal was carried out and a shareholder lawsuit:
the plaintiff alleges that the proposed transaction is one-sided because itI cannot find any more information on this lawsuit.
contains a "no solicitation" provision, a $15 million termination fee provision,
will only benefit the insiders, but not the Airvana shareholders, and the true
value of Airvana's stock is much greater than the consideration offered in the
proposed transaction. The plaintiff claims the offer should be higher because
the company introduced recently new updated products, like the HubBub Connected
Home Femtocell (a new model of the HubBub CDMA Femtocell), and the financial
results are promising, including outstanding invoices of about $36.4 million and
a recent payment of $39.6 million payment from Nortel.