Jeff Labrecque
May 24, 2011 AT 05:46 PM EDT

The company that owns American Idol is facing several lawsuits for allegedly not getting a high-enough price in its recent sale. According to the Hollywood Reporter, some shareholders of CKx Inc. are unimpressed by the recent sale of their company to Apollo Global Management for $511 million. Reports indicate that CKx, which owns 19 Entertainment, the company that runs Idol and So You Think You Can Dance, had previously fielded higher offers, and as a result, three lawsuits have been filed.

In a regulatory filing, CKx said they “believe the plaintiffs’ allegations lack merit and will contest them vigorously.” A spokesperson for the company did not immediately respond to a request for comment.

Read more:

‘American Idol’ parent company sold for $509 million

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