Carmel, IN: (Mar-09-07) A putative stockholder class action lawsuit was filed against ADESA, North America's largest publicly traded provider of wholesale vehicle auctions and used vehicle dealer, regarding the company's proposed merger with KAR Acquisition, Inc. KAR Acquisition is an indirect subsidiary of KAR Holdings II, LLC, an entity controlled by a group of private equity funds consisting of Kelso & Company, GS Capital Partners VI, L.P., an affiliate of Goldman Sachs & Co., ValueAct Capital Master Fund, L.P. and Parthenon Investors II, L.P. The suit, filed in the Court of Chancery of the State of Delaware, ended with ADESA agreeing to pay up to $340,000 as well as amend and supplement its definitive proxy statement filed with the Securities and Exchange Commission to include certain additional disclosure, which proxy supplement will be mailed to stockholders of record. [BUSINESS WIRE: STOCKHOLDER SETTLEMENT]
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