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Marketo Hit With 2nd Lawsuit Over Pending Sale to Vista Equity

Marketo is facing a second class action lawsuit in connection with its proposed acquisition by Vista Equity Partners — a deal the suit contends will generate more than $58 million for company co-founder, CEO, President and Board Chair Phil Fernandez.

In a suit filed Tuesday in California federal court, shareholder Robert Rosati alleges the proxy statement fails to disclose material information about potential conflicts of interest affecting Marketo’s management, including its discussions with Vista regarding continued employment and rollover equity. Read more …

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