By Rick Archer (February 11, 2020, 6:46 PM EST) -- Shareholders in milk producer Dean Foods are asking a Texas bankruptcy judge to appoint a committee to represent them in the company's Chapter 11 case, saying such a committee is needed to counteract the influence of the company's main supplier.
In a Monday filing, the ad hoc shareholder group said an equity holders committee needs to be appointed to protect their interests in what they argued is Dean's still considerable value and because of the "unique position of power" occupied by supplier, creditor and prospective buyer Dairy Farmers of America.
"The historical intertwining of these two companies' operations, to the detriment...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!