Lear Employee Brings Suit Over Icahn Acquisition

Law360, New York (March 5, 2007, 12:00 AM EST) -- A lawsuit filed Thursday is trying to stop the planned acquisition of Lear Corp. by an affiliate of billionaire investor Carl Icahn, alleging the deal undercuts the worth of stocks employees own and violates the Employee Retirement Income Security Act.

The suit, filed Thursday in the U.S. District Court for the Eastern District Michigan, joins at least six lawsuits fighting the deal.

Icahn’s holding company, American Real Estate Partners, agreed in February to buy all the shares of Lear that Icahn doesn’t already own for $36...
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