Chancery OKs $5.6M Settlement In Liberty Tax Investor Suit

Law360 (April 16, 2021, 8:24 PM EDT) -- A Delaware vice chancellor approved as an "easy call" on Friday a $5.6 million award for stockholders and their attorneys that settled a a suit over a conflicted tender offer for public shares of Liberty Tax Inc., now known as Franchise Group Inc., in 2019.

Vice Chancellor Sam Glasscock III's decision reserved $1.85 million from the award for Friedman Oster & Tejtel PLLC and Grant & Eisenhofer P.A., including a $975,000 mootness fee for litigation during an earlier phase of the case.

The fee covered "myriad" stockholder attorney efforts to obtain additional disclosures regarding the deal and conflicts involving Liberty and...

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