A fund of Burford Capital Investment Management LLC sued in Delaware's Chancery Court May 16 for post-merger appraisal of its 5 million Nexeo Solutions Inc. shares, two months after the closing of Nexeo's $2 billion sale to Univar Inc.

According to the complaint, the amount paid out for Nexeo—originally expected to total $11.65 per share in the form of $3.29 in cash and the balance in stock—was skewed by considerations intended to benefit controlling investors and directors who had side deals and options unavailable to the minority. Delaware corporation law allows investors to pursue a trial and court-determined stock appraisal for those who reject the deal price involved.

BCIM is represented by David J. Margules and Elizabeth A. Sloan, who are litigation partners in Ballard Spahr's Delaware office.

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