True Religion Shareholders Sue To Block $835M Buyout

Law360, New York (May 15, 2013, 12:38 PM EDT) -- True Religion Apparel Inc. and its board threw shareholders under the bus when they agreed to let TowerBrook Capital Partners take the designer jeans company private for $835 million, a proposed class of California shareholders alleged Tuesday.

TowerBrook's plans to take True Religion private were approved by True Religion's board of directors without taking all steps to maximize value to all shareholders, and the proposal improperly benefits True Religion's directors and TowerBrook at the expense of other shareholders, according to the proposed class action filed by...
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