![]() Rockwell Automation expects that it will be indemnified for its obligations under the settlement. Under the settlement agreement, which is subject to court approval, Rockwell Automation and Dow Chemical will pay $375 million to resolve the claims of a class of landowners near Rocky Flats. From 1975 to 1989, Rockwell International operated the Rocky Flats plant for the DoE. Department of Energy’s (DoE) Rocky Flats plant in Colorado. Rockwell International, a case that has been pending since 1990 related to the U.S. ![]() The company reported $435.3 million in cash and equivalents at the end of the June quarter.MILWAUKEE, The parties agreed yesterday to settle Cook v. The settlement also provides that shareholders will receive one additional share of common stock for every 7.5 shares they currently own.Ībsent further litigation, AMC is now free to convert its APE shares to common stock and enact a 10-for-1 reverse stock split of the common stock, giving the company the ability to issue more shares to raise the money AMC needs to deal with its long-term debt of $4.8 billion and net debt of $9.06 billion. The judge denied “an objector’s” request for a stay made if the revised settlement was approved. Citing four specific tasks the court must consider, Judge Zurn declined to give the class that sued the company the right to opt out of the settlement, approved the adequacy of AMC’s notice of the settlement to the class, found the settlement to be reasonable, and awarded plaintiff’s lawyers’ 12% of the settlement for fees and expenses. The revised settlement eliminated the language that sought to release direct claims of preferred shareholders (Apes) that common shareholders had no power to release. In her July 21 ruling, Judge Zurn said that the settlement “cannot be approved as submitted” because it “purports to release not only claims associated with the common stock, but also claims associated with preferred interests that common stockholders might also hold.” ![]() After markets closed Friday, Judge Zurn approved a revised settlement that sent AMC’s common shares plunging and preferred shares ( NYSE: APE) soaring. ( NYSE: AMC) and shareholders who had filed suit to stop the agreement. Three weeks ago, Delaware Chancery Court Judge Morgan Zern rejected a proposed settlement between AMC Entertainment Holdings Inc. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |