Smurfit-Stone Reaches Settlement With Shareholders

Law360, New York (May 24, 2010, 2:33 PM EDT) -- Smurfit-Stone Container Corp. said Monday it had reached a settlement with shareholders who objected to the company's Chapter 11 restructuring that will allow Smurfit-Stone to exit bankruptcy protection by early summer.

Under the settlement, which Smurfit-Stone said it would file in the U.S. Bankruptcy Court for the District of Delaware in the coming days, holders of existing preferred shares of the company will receive a pro rata share of reorganized Smurfit-Stone stock.

Approval of the settlement will resolve all shareholder claims against Smurfit-Stone's reorganization and go...
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