Investors Get $17M To End Suit Over $446M Nutraceutical Buy
Law360 (April 16, 2021, 10:50 PM EDT) -- Former Nutraceutical International Corp. directors and the private equity firm that acquired the business for $446 million in 2017 have agreed to pay $17.5 million to end a proposed Delaware Chancery Court investor class action alleging that the take-private deal was unfair and tainted by conflicts of interest.
The parties filed the details proposed agreement with the court Friday, noting that it was reached in March after arm's-length negotiations that started in February. Under the agreement, the defendants deny all allegations of wrong-doing.
"Based upon their investigation and prosecution of the action, plaintiff and plaintiff's counsel have concluded that the terms...
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