Broderbund Accused Of Misleading Softkey

SoftKey International Inc., which has made a $606 million hostile offer for Learning Co., said rival bidder Broderbund Software Inc. gave false and misleading statements about its financial condition.

SoftKey, a Cambridge, Massachusetts-based consumer and educational software company, amended a legal complaint against Learning Co. and Broderbund. It alleges that Broderbund failed to make adequate disclosure of certain adverse material changes in its business.

SoftKey said that Broderbund failed to disclose significant recent declines in the growth of retail sales of certain products, including Myst, Print Shop and Where in the World is Carmen Sandiego? Myst was created by Spokane-based Cyan Inc.

Monday, SoftKey raised its hostile bid for Fremont, California-based Learning Co., an educational software maker, to $65 a share, or $606 million, and changed the terms to all cash.