It would be worth a review of your sale agreement, an anti-embarrassment clause is often added to protect you against situations like this. Although if the other Director knew about the deal and was intentionally hiding it from the Board then they would presumably not have signed a sale agreement with a clause like this in there.
I'll let others comment on whether there might be something in company law you can use to make a challenge, do you have clear proof the deal was in the works before you sold and that it was intentionally hidden from you to suppress the price?