Buyers Blast $12M Fee Bid In Del Monte Buyout Suit

Law360, New York (May 2, 2011, 8:14 PM EDT) -- A $12 million fee request by attorneys for the shareholder plaintiffs in a Delaware class action that challenged the recent buyout of Del Monte Foods Co. is both baseless and premature, the private equity buyers said Friday.

The plaintiffs won a delay of a shareholder vote on the $5.3 billion deal and an injunction against certain deal protections in February after pointing out financial adviser Barclays Capital Inc.’s manipulation of the sale process, prompting a scathing opinion from Vice Chancellor J. Travis Laster and speculation that...
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