Sherwood Dealt Setback In Appeal Of Securities Case
The U.S. Court of Appeals for the Fourth Circuit affirmed last month a lower court’s decision that Asher Candy Inc.’s board member and majority shareholder were not liable for securities violations and fraud, and agreed that Sherwood should be on the hook for breaching its contract with the shareholder.
Sherwood filed suit against Leonard Levie, Asher’s board chairman who...
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