Firms Get $23.5M For $100M Merger Suit Settlement In Del.

By Rose Krebs (January 20, 2022, 4:01 PM EST) -- Three firms are getting a $23.5 million fee per a vice chancellor's approval of a $100 million settlement of a Delaware Chancery Court suit that accused Clayton Dubilier & Rice LLC of steering a construction industry supplier it controlled into an allegedly "grossly unfair" $1.2 billion merger.

During a settlement hearing held virtually on Wednesday, Vice Chancellor J. Travis Laster approved the settlement, bringing an end to a suit filed by NCI Building Systems Inc. stockholder Gary D. Voigt. He also approved the $23.5 million fee award to go to Voigt's counsel Andrews & Springer LLC, Friedman Oster & Tejtel PLLC...

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