The July, 2018 sale of Pro Performance Sports to Implus for $40 million was challenged by shareholders who essentially got nothing from the transaction while the VC firms that had a liquidation preference were paid in full. The court found that the terms of the LLC agreement gave shareholders the right to approve major transactions and dismissed the defense by Steelpoint Holdings which claimed that the action failed to state a claim based on their interpretation of the ... Log in to view full article.