Frederick's Of Hollywood Hit With Shareholder Class Action

Law360, Los Angeles (January 27, 2014, 8:50 PM EST) -- Lingerie company Frederick's of Hollywood Group Inc. was hit with a putative class action Friday in New York state court by a shareholder who claims a proposed buyout by a Harbinger Group Inc. subsidiary and others significantly undervalues the firm and deprives minority shareholders of the right to vote.

Named plaintiff Bruce H. Paul claims FOHG's directors and officers breached their fiduciary duties to shareholders by entering into an agreement in December providing for the acquisition of the company by a consortium including Harbinger subsidiary HGI...
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