Rent-A-Center Moves To Nix Shareholder Poison Pill Suit

Law360, Houston (April 26, 2017, 3:38 PM EDT) -- Rent-A-Center Inc. on Tuesday asked a federal judge in Texas to dismiss a shareholder suit alleging that a poison pill in the company's loan agreements with JPMorgan Chase & Co. and Bank of New York Mellon is preventing shareholders from replacing the board of directors, arguing that the shareholders' claims stem from a misreading of the agreements.

Shareholder Arnaud van der Gracht de Rommerswael filed the shareholder derivative action earlier this month, alleging that a clause known as a "dead hand proxy put" is preventing the replacement of board members because it allows Rent-A-Center lenders JPMorgan and BNY Mellon to make the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!