The Upper Deck Company and Northwood Investors filed suit Tuesday  in Delaware against Topps Co., certain of its directors, the Tornante Company, Madison Dearborn, and other affiliated companies, alleging that Topps breached the confidentiality agreement regarding Upper Deck's interest in the company during March, that Topps fraudulently induced Upper Deck to sign the confidentiality agreement, that the defendant directors breached their fiduciary duties to Topps stockholders, and more. 

 

Northwood Investors, according to Topps' filing, is a 'purported' shareholder of Topps.  The Tornante Company and Madison Dearborn are the Michael Eisner-associated company and the private equity fund, respectively, to whom Topps has agreed to sell the company.   

 

Upper Deck has asked for an injunction preventing Topps from enforcing a standstill provision in the confidentiality agreement that prevents Upper Deck from making a tender offer for the company, and from holding a stockholder meeting to vote on the Tornante deal until the standstill agreement is voided. 

 

Topps's statement indicates that it continues to negotiate with Upper Deck over its offer for the company (see 'Topps in Talks with Upper Deck'). 

 

Topps is also in a bitter internal struggle over the Tornante deal and control of the company (see 'Topps Tilt Goes Tit for Tat').