Shareholders Want More Say As Foamex Soars

Law360, New York (May 11, 2006, 12:00 AM EDT) -- One of the largest shareholders of bankrupt foam-cushion manufacturer Foamex International Inc. is seeking a seat at the bargaining table after an unexpected reversal of fortune turned Foamex stock into a hot commodity.

D.E. Shaw Laminar Portfolios LLC, which owns a significant amount of Foamex’s common and preferred stock, filed a motion to compel the U.S. Trustee in the case to appoint an Official Committee of Equity Security Holders.

Since the company filed its reorganization plan—a plan that would have cancelled all equity interests and distributed...
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