Rock-Tenn Settles Investor Suit Over $3.5B Smurfit Buy

Law360, New York (October 5, 2011, 10:51 PM EDT) -- Packaging manufacturer Rock-Tenn Co. said Wednesday that it had settled a class action in Delaware court brought by shareholders of Smurfit-Stone Container Corp., which Rock-Tenn bought in May for $3.5 billion.

Under the settlement's terms, Rock-Tenn said it would grant the Smurfit shareholders the right to bring and participate in future chancery court proceedings in which the court would assess the value of a share of Smurfit common stock on a stand-alone basis as of May 27, when shareholders of both companies approved the deal....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.