A class-action lawsuit filed by Cellular Dynamics International Inc. (CDI) shareholders may stand in the way of a proposed sale of the company to Fujifilm, according to a report in the Wisconsin State Journal. The lawsuit claims shareholders are being shortchanged in a deal that is unevenly slanted toward the company’s board of directors.
At least one analyst has suggested that CDI shares have a target price of $24.07 per share. Shareholder Michael Kahl of Oregon filed the suit and is asking a Dane County judge to halt the proposed acquisition.
