2002 In re M & F Worldwide Corporation Shareholder Litigation
In the Court of Chancery for the State of Delaware, New Castle County; Vice Chancellor Strine, presiding. Represented several named shareholder plaintiffs in a shareholder class action and derivative action suit against Ronald O. Perelman and the Board of Directors based on M&F Worldwide’s purchase of Perelman’s controlling interest in Panavision, Inc. stock. The firm successfully challenged a proposed $12 million settlement between Defendants and other plaintiffs as inadequate. Resumed trial, and during trial reached settlement in which Defendants rescinded the $130 million transaction made the basis of suit. Resulted in $81 million cash payment to M & F plus approximately $48 million in stock to M & F.