Alltel shareholders file suit

Not everyone is happy about private equity firms TPG Capital and GS Capital Partners' agreement to purchase Alltel for $27.5 billion. The deal, which was announced late Sunday, is drawing the ire of some shareholders. Yesterday three lawsuits were filed challenged the buyout. One claims that shareholders are being shorted, another claims preferential treatment for company insiders and the third claims shareholders can't depend on the board to make good decisions.

Alltel, of course, claims the lawsuits are without merit.

For more on the Alltel lawsuit:
- see this WSJ story (sub req.)

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