Educate Inc., a K-12 education company based in Baltimore, has received a class-action lawsuit filed on behalf its shareholders, disputing its pending merger agreement.
The Law Offices of Brian Felgoise P.C. based in Philadelphia filled the lawsuit.
The purpose of the lawsuit is to seek the highest possible offer for the public shares of the company. Headed by Douglas Becker, the chairman and chief executive officer of Laureate Education Inc., a subsidiary of Educate, the group planning to acquire the company was prepared to offer about $3.8 billion for it.
