Suit Over $1.1B Rue21 Buyout Will Test Del.'s MFW Ruling

Law360, New York (September 13, 2013, 3:42 PM EDT) -- A lawsuit filed Thursday against Rue21 Inc.'s $1.1 billion buyout by Apax Partners LLC will be among the first to test a recent Delaware decision about how controlling shareholders ought to act when freezing out other investors.

Apax, which previously owned the teen clothing chain and remains its controlling stockholder, is seeking to take the company private for $42 per share. The suit says the price is unfair and that the process — from the valuations provided by financial adviser Perella Weinberg Partners to the special...
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