Lawsuit Against Milken Over Education Tech Sale Is Tossed
A Delaware federal judge has kicked out a $135 million lawsuit by a Texas-based company against Michael Milken and an associate over their sale of an education technology company.
March 11, 2015 at 02:24 AM
4 minute read
By Michael A. Riccardi
A Delaware federal judge has kicked out a $135 million lawsuit by a Texas-based company against Michael Milken and an associate over their sale of an education technology company.
According to reporting in The New York Times, billionaire investor Ronald Perelman was the main figure in San Antonio-based Harland Clarke Holdings Corp., which was the parent of Scantron Corp. Scantron bought GlobalScholar in 2011, but according to the complaint in the case, the business was underperforming and much of its software was “vaporware.”
The lawsuit was originally filed in the U.S. District Court for the Western District of Texas, but in February 2014 was sent to the U.S. District Court for the District of Delaware.
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