A class of Dell Inc. investors have accused Michael Dell and Silver Lake Group LLC in Delaware Chancery Court of muscling through a share exchange transaction, which allegedly cost them billions of dollars and created a “windfall” for the company’s controllers.

The suit, made public Wednesday, is the latest challenge to the transaction, which converted shares tied to Dell’s interest in a valuable computer visualization firm into shares that tracked the business as a whole. According to the complaint, the compensation Dell offered for the valuable Class V stock was “nowhere near” the value of their stock, thanks in part to a bloated valuation of the company.

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