Cadbury Investor Sues Over Kraft Takeover Rejection

By Samuel Howard

Law360, New York (October 01, 2009, 3:34 PM ET) -- An investor in Cadbury PLC has filed a derivative suit accusing the confectioner’s board of directors of selfishly betraying the company by refusing Kraft Food Inc.’s repeated offers of a $16 billion buyout.

Steward International Enhanced Index Fund sued Cadbury’s board of directors Wednesday in the U.S. District Court for the District of New Jersey, alleging the defendants are more concerned with holding on to their corporate compensation than improving the shareholders’ prospects.

While the British company’s board members have long received compensation inconsistent with the...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles