Report: Suit in PPD acquisition is settled
Research Triangle Park, N.C. —
North Carolina Layers Weekly reported the settlement Friday.
"Despite objections from one institutional shareholder, the North Carolina Business Court has approved the settlement of a class action against Wilmington-based clinical research company Pharmaceutical Product Development Inc. and two private equity firms," the newspaper reported.
The deal closed in December.
The lawsuit claimed that the $3.9 billion price was too low.
The Carlyle Group in partnership with Hellman & Friedman acquired the firm, which was founded by Wilmington businessman Fred Eshelman.
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