DATA KEY PARTNERS v. PERMIRA ADVISORS LLC

No. 2012AP1967.

837 N.W.2d 624 (2013)

2013 WI App 107

DATA KEY PARTNERS, Plaintiff-Appellant, v. PERMIRA ADVISORS LLC, Raphael Holding Company, Terrance D. Paul, Judith Ames Paul, Addison L. Piper, Harold E. Jordan, Mark D. Musick, Randall J. Erickson, Glenn R. James and Raphael Acquisition Corp., Defendants-Respondents, Renaissance Learning, Inc., Defendant.

Court of Appeals of Wisconsin.

Opinion Filed August 1, 2013.


Attorney(s) appearing for the Case

On behalf of the plaintiff-appellant, the cause was submitted on the briefs of Stacy Taeuber of Law Offices of Stacy Taeuber, Madison, and Richard B. Brualdi of The Brualdi Law Firm, P.C., New York, New York.

On behalf of the defendants-respondents, the cause was submitted on the joint brief of Jonathan C. Medow of Mayer Brown LLP, Chicago, Illinois; Leon S. Schmidt, Jr. , of Schmidt & Grace, Wisconsin Rapids; Nancy J. Sennett , Andrew J. Wronski , and Eric Pearson of Foley & Lardner LLP, Milwaukee; Garrett J. Waltzer of Skadden, Arps, Slate, Meagher & Flom LLP, Palo Alto, California; and Howard A. Pollack and Michael B. Apfeld of Godfrey & Kahn, S.C., Milwaukee.

Before BLANCHARD, P.J., LUNDSTEN and HIGGINBOTHAM, JJ.


BLANCHARD, P.J.

¶ 1 Data Key Partners, a former minority shareholder in Renaissance Learning, Inc., appeals a circuit court judgment that dismissed Data Key's claims arising out of the sale of Renaissance to Permira Advisors, LLC. Data Key alleged that Renaissance's directors and its majority shareholders (who are also directors) breached various fiduciary duties and that Permira aided and abetted the breaches. Data...

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