Moelis To Pay $5M To End Claims Over Rural/Metro Buyout

Law360, Chicago (April 25, 2013, 3:13 PM EDT) -- Moelis & Co. LLC has agreed to pay $5 million to former Rural/Metro Corp. shareholders to settle class claims that the financial adviser helped push through a lowball private equity bid for the medical transport company in 2011, according to a letter filed Thursday in Delaware Chancery Court.

The proposed settlement would release the New York-based investment bank from the class action over Warburg Pincus LLC’s $438 million buyout of Rural/Metro, but potentially allow trial to go forward against the company’s board and a second financial...
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