SmileDirectClub Beats Stockholders' $700M Insider Sale Suit
By Jeff Montgomery ( May 28, 2021, 9:07 PM EDT) -- Delaware's Chancery Court shot down a shareholder suit Friday that accused SmileDirectClub Inc. directors and officers of unjust enrichment through allegedly overpriced company buys of nearly $700 million in pre-initial public offering LLC units from insiders, finding that transaction terms were set before those who sued became shareholders....
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