Allied, Investors Reach Agreement

Law360, New York (April 23, 2007, 12:00 AM EDT) -- A protracted battle between Allied Holdings Inc. and one of its largest shareholders has finally come to an end, after Allied agreed to let investors purchase stock in the reorganized company.

Allied and majority shareholder Yucaipa Cos. reached the settlement on Friday, after Allied agreed to amend its disclosure plan to allow shareholders to purchase up to 4% of the company’s stock after it emerges from bankruptcy.

The original plan called for all shares to be cancelled upon Allied’s emergence.

The newly amended reorganization plan will...
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