Squarespace Inc. argued Tuesday that formal board minutes regarding the company’s $7.2 billion sale to Permira Advisers LLC are more revelatory than the CEO’s emails sought by a pension fund investigating the transaction.
The Michigan Electrical Employees’ Pension Fund’s lawsuit in the Delaware Chancery Court alleges the buyout potentially favored insiders on both sides of the deal. CEO Anthony Casalena wasn’t named as a defendant.
The company has fought the demand, saying it produced over 5,000 pages of documents and didn’t need to add more, particularly anything related to informal conversations before the board officially began considering the proposed transaction. ...
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