J.Crew Investor Targets Nixed $10M Buyout Deal

Law360, New York (March 4, 2011, 4:21 PM EST) -- A J.Crew Group Inc. shareholder on Friday moved to intervene in a Delaware class action challenging the recently approved private equity buyout of the clothing retailer, seeking to revisit a scuttled $10 million settlement.

Shareholder Robert W. Caywood contends that the current plaintiffs and their counsel can no longer adequately represent the proposed shareholder class in the litigation, which seeks to remedy a flawed sales process that allegedly benefited management at the expense of investors, according to a complaint filed in the Delaware Court of Chancery....
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