Class Action Seeks To Halt Mars-Wrigley Merger

Law360, New York (May 1, 2008, 12:00 AM EDT) -- A W.M. Wrigley Jr. Co. shareholder has asked a federal court to block the gum company's proposed $23 billion purchase by private candy company Mars Inc., calling the deal unfair to public shareholders.

The plaintiff filed his complaint as both a proposed class action against the company and a derivative suit against the directors Wednesday in the U.S. District Court for the Northern District of Illinois.

Accusing the directors of breach of fiduciary duty and control and of gross mismanagement, the suit asked the court to...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.