Coty, JAB Can't Ditch Del. Investor Suit Over $1.7B Deal

By Dorothy Atkins (August 18, 2020, 6:26 PM EDT) -- The Delaware chancellor on Monday refused to toss a consolidated investor suit against global cosmetics giant Coty, its directors and majority owner JAB Holding that alleges conflicts and unfair terms tied to a $1.7 billion deal gave JAB control of the business at the expense of minority stakeholders.

In a 41-page opinion, Chancellor Andre G. Bouchard rejected efforts by Coty Inc., its board and the Luxembourg-based investment company JAB Holding Co. to dismiss the investors' lawsuit, concluding that it was "reasonably conceivable" that the minority shareholders were harmed when JAB's ownership of Coty shares rose from 40% to 60% after its...

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