Shareholders sue to block II Fornaio sale
CORTE MADERA, CALIF. — Shareholders filed three lawsuits against II Fornaio (America) Corp., including allegations of breach of fiduciary duty, in a bid to block the company’s recent agreement to be acquired by investment firm Bruckmann, Rosser, Sherrill & Co. for about $93 million, or $14 a share.
The complaints seek an injunction, damages and other relief in association with the acquisition agreement. II Fornaio said the suits are without merit, and it intends to contest the matter vigorously.
COPYRIGHT 2000 Lebhar-Friedman, Inc.
COPYRIGHT 2000 Gale Group