Attorneys engaged in the recent lawsuit challenging the deal of fitness software maker Mindbody Inc. going private have been awarded the maximum fee. A Delaware judge ruled on Wednesday that the legal professionals, who argued that a deal with private equity firm Vista Equity Partners Management LLC was undervalued, will be entitled to a fee equivalent to a third of the case damages.
The case was spearheaded by legal firms Friedlander & Gorris PA and Bernstein Litowitz Berger & Grossmann LLP. They represented the interests of Mindbody Inc. investors and were instrumental in fighting for an equitable deal for them.
The lawyers’ commitment to the litigation demonstrated the length a case could go in court. Underlining these significant circumstances, the judge permitted the awarding of the maximum permissible fees. The trial and results have exemplified the rigorous scrutiny legal and business deals can undergo, thus shaping the landscape for future mergers and acquisitions.
For more details on the case proceedings and ruling, visit the full article on Bloomberg Law.