Representative Matters

Print PDF
Client: Beverage Manufacturer and Distributor
Assisted in the successful representation of a large bottling company in connection with shareholder derivative suits challenging its merger with one of the world's largest food and beverage companies, a transaction valued at $7.8 billion. 

Shareholder class actions were filed in Minnesota and Delaware state courts alleging that company's merger offer undervalued the outstanding shares of client's common stock. The complaints asserted breach of fiduciary duty and unfair dealing as the central causes of action, alleging that the proposed merger constituted an unfair price, and charging the offering company as a so-called “controlling shareholder” of the client. Following discovery, and early motion practice, all similar actions were successfully consolidated and the case settled on terms favorable to the client.