MFW Investor Sues To Block MacAndrews & Forbes Deal

Law360, Wilmington (June 15, 2011, 2:10 PM EDT) -- MacAndrews & Forbes Holdings Inc.’s proposed acquisition of the portion of M&F Worldwide Corp. that it does not already own is an opportunistic bid that shortchanges MFW’s shareholders, according to class action filed Tuesday in Delaware state court.

MFW shareholder Charlotte Martin alleges that the company’s directors — including billionaire chairman Ronald Perelman, who also owns MacAndrews & Forbes — are breaching their fiduciary duties to shareholders in connection with the deal, which seeks to take MFW private by acquiring the remaining 57 percent of the...
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