Warnaco Shareholder Settles Challenge To $2.9B PVH Buyout

Law360, Chicago (June 17, 2013, 5:23 PM EDT) -- Fashion house The Warnaco Group Inc. and its board of directors have settled a putative securities class action in New York state court alleging the firm's deal to be purchased for $2.9 billion by competitor PVH Corp. undervalued the company, according to court documents made available Monday.

In an order dated June 13, New York Supreme Court Justice Jeffrey K. Oing granted final approval to the deal to end the suit Warnaco shareholder Timothy Edward Coyne lodged in November over the acquisition, which ended up closing...
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