Shareholder Hits Revlon Execs With Stock Swap Suit

Law360, New York (December 23, 2009, 3:31 PM EST) -- A Revlon Inc. shareholder has filed a proposed class action against the cosmetic company's executives, claiming that they withheld information in order to lure shareholders into participating in a stock exchange offer that ended just before the company announced high-third quarter results, causing stock prices to skyrocket.

Plaintiff Edward S. Gutman filed a complaint Monday in the Chancery Court of the State of Delaware against individual Revlon executives and the company's controlling shareholder on behalf of the former holders of 9.3 million shares of Revlon common...
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