Teavana Settles Shareholder Suits Over $620M Starbucks Deal

Law360, New York (December 17, 2012, 7:34 PM EST) -- Teavana Holding Inc. has settled three putative class actions that claimed the tea company's $620 million buyout offer from Starbucks Coffee Co. wasn't beneficial enough to Teavana's stockholders and didn't include enough information about the details of the deal, according to a Teavana regulatory filing released Friday.

Michael Rubin and two other Teavana stockholders filed the Delaware suits in November, alleging Teavana’s board of directors went into the Starbucks deal without adequately considering the stockholders’ interests, the filing said. The complaints generally alleged that Teavana included...
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