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DATA KEY PARTNERS v. PERMIRA ADVISERS LLC

No. 2012AP1967.

849 N.W.2d 693 (2014)

2014 WI 86

DATA KEY PARTNERS, Plaintiff-Appellant, v. PERMIRA ADVISERS LLC, Raphael Holding Company and Raphael Acquisition Corp., Defendants-Respondents, Terrance D. Paul, Judith Ames Paul, Addison L. Piper, Harold E. Jordan, Mark D. Musick, Randall J. Erickson, and Glenn R. James, Defendants-Respondents-Petitioners, Renaissance Learning, Inc., Defendant.

Supreme Court of Wisconsin.

Decided July 23, 2014.

Attorney(s) appearing for the Case

For the defendants-respondents-petitioners, there were briefs by Jonathan C. Medow and Mayer Brown LLP, Chicago; Leon S. Schmidt Jr. and Schmidt & Grace, Wisconsin Rapids; and Howard A. Pollack , Michael B. Apfeld , and Godfrey & Kahn, S.C., Milwaukee; and oral argument by Jonathan C. Medow and Michael B. Apfeld.

For the plaintiff-appellant, there was a brief by Richard B. Brualdi and The Brualdi Law Firm, P.C., New York; and Stacy Taeuber , Madison; and oral argument by Richard B. Brualdi.

PATIENCE DRAKE ROGGENSACK, J.

¶ 1 We review a decision of the court of appeals1 reversing, in part, an order of the circuit court2 that dismissed the Second Amended Complaint because it failed to state a claim upon which relief could be granted. Plaintiffs claim that defendants violated their fiduciary duties to the minority shareholder by selling Renaissance Learning, Inc. to Permira Advisers, LLC.

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