Argo Tea Investor Abandons Scuffle Over Share Sale

Law360, Chicago (May 18, 2012, 7:17 PM EDT) -- Walnut Private Equity Fund LP on Thursday dropped its suit in Ohio federal court aimed at derailing Argo Tea Inc.'s plan to sell common shares, a move the investor alleged would improperly eliminate its special rights as a $3.65 million preferred shareholder in the company.

U.S. District Judge Michael R. Barrett signed off on the stipulated dismissal of the case with prejudice, ending the suit Walnut first launched in Ohio state court Oct. 5 as well as similar claims that fellow investor Hauser Capital Partners LLC...
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