Revlon To Pay $9.2M To End Investor Suit Over Tender Offer

Law360, Wilmington (October 9, 2012, 8:37 PM EDT) -- Revlon Inc. has agreed to fork over $9.2 million to settle a class action alleging MacAndrews & Forbes Holdings Inc. increased its controlling stake in the cosmetics maker at the expense of minority shareholders through a 2009 tender offer, according to court documents filed Tuesday in Delaware.

Several Revlon shareholders had sued MacAndrews & Forbes, its principal Ronald Perelman and the cosmetics company's board in Delaware Chancery Court, alleging the defendants duped public investors into tendering their shares at an inadequate price just weeks before Revlon...
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