Chancery OKs $2M Settlement For Louisville Bedding Class
Law360 (January 11, 2019, 8:46 PM EST) -- A Louisville Bedding Co. shareholder class won Chancery Court approval Friday for a $2.1 million settlement of claims that a management-led group took remnants of the business private for an unfair price after first amassing millions in cash through the sale of most company assets.
Chancellor Andre G. Bouchard described as “a good result” the settlement with the company’s “expanded management group” and two companies formed in connection with the buyout.
The suit, filed in June 2014, accused the management group of selling most of Louisville Bedding’s assets to another company for $31.2 million, or $30.20 per share, with more than...
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