Magic Hat Brewer Faces Investors' Ire Over Merger

Law360, New York (August 25, 2010, 4:19 PM EDT) -- Shareholders of Independent Brewers United Inc. have filed a putative class action accusing the craft brewery of failing to properly inform them of its recent acquisition by North American Breweries Inc.

Minority IBU shareholder Brewing Investments Co. Inc. filed the complaint Monday in the Court of Chancery of the State of Delaware, alleging that shareholders were not given enough information to determine whether to request an appraisal of the merger, which was announced Aug. 11.

Vermont-based IBU produces Magic Hat, Pyramid and MacTarnahan's beers. NAB, meanwhile,...
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