Rock-Tenn Settles Investor Suit Over $3.5B Smurfit Buy

Law360, New York (October 5, 2011, 10:51 PM EDT) -- Packaging manufacturer Rock-Tenn Co. said Wednesday that it had settled a class action in Delaware court brought by shareholders of Smurfit-Stone Container Corp., which Rock-Tenn bought in May for $3.5 billion.

Under the settlement's terms, Rock-Tenn said it would grant the Smurfit shareholders the right to bring and participate in future chancery court proceedings in which the court would assess the value of a share of Smurfit common stock on a stand-alone basis as of May 27, when shareholders of both companies approved the deal....
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