Cemetery Co. Investor Seeks Records To Probe 'Wrongdoing'
By Jeannie O'Sullivan (March 26, 2021, 7:02 PM EDT) -- A StoneMor Inc. investor has launched a complaint in Delaware Chancery Court seeking the cemetery operator's books and records as part of his inquiry into whether the company's controlling shareholder made financial maneuvers for personal gain to the detriment of other stockholders.
In a lawsuit filed Thursday, Lewis Titterton alleged Pennsylvania-based StoneMor largely rebuffed his demands for meeting minutes and other documents related to transactions orchestrated by Andrew Axelrod and his hedge fund, Axar Capital Management LP, and approved by StoneMor's board. Among the moves that piqued Titterton's suspicion was the company's $30 million investment in embattled shoe retailer Payless, a...
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