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...
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!