Settlement Reached in Significant Stockholder Suit
The Circuit Court of Madison County, Alabama recently granted final approval of a settlement in Intergraph Corporation, et al. v. Greg Bentley, et al. (CV-08-1729-JPS). The case was rooted in a complaint by certain minority shareholders in Bentley Systems, Inc. (“Bentley”) against actions of that corporation and certain of its shareholders and directors. Resolution of the case was achieved by Bentley repurchasing shares at a price approximating $200 million. The Huntsville Times recently reported on the case, characterizing the settlement as “among the largest in Madison County history.”
I served as an expert in this matter, testifying on behalf of the plaintiffs and assisting counsel in review of the work of a defense expert. Both sides were represented by very capable counsel.
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