J.Crew Gets Final Nod On $16M Deal Over PE-Led Buyout

Law360, Wilmington (December 14, 2011, 4:53 PM EST) -- J.Crew Group Inc. and the private equity firms that purchased the retailer in March won final approval on Wednesday of a $16 million settlement with a class of shareholders that challenged the $3 billion buyout, despite an objection from a named plaintiff in the case.

Chancellor Leo Strine cleared the settlement at a hearing in Delaware Chancery Court, overruling shareholder Martin Vogel, who claimed he did not consent to the deal and that lead class attorneys accepted a paltry award at the behest of powerful institutional...
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