Home Furnisher Pays $3.7M To Settle Merger Suit

Law360 (June 12, 2008, 12:00 AM EDT) -- Restoration Hardware Inc. has agreed to pay $3.7 million to settle a shareholder dispute that alleged Sears Holding Co. was precluded from making a higher offer than the current $179 million merger deal.

Plaintiffs firm Coughlin Stoia Geller Rudman & Robbins LLP was seeking a preliminary injunction enjoining a shareholder meeting on the merger proposal. The firm also wanted the court to allow Sears to make its offer directly to Restoration's shareholders.

The firm alleged that management of the home furnishing company officials wrongly supported and...
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