Gardy & Notis, LLP has been appointed by the Court as lead counsel for shareholders of The Topps Company, Inc. (NASDAQ: TOPP) seeking to prevent the management supported buyout of Topps by an investor group lead by former Disney CEO Michael Eisner, based on allegations that Eisner's $9.75 offer to public shareholders (already agreed to Topps' CEO and a majority of its board of directors) is an unfair price and the result of an unfair sales process.
On June 8, 2007, the New York State Supreme Court denied Topps' motion to dismiss and/or stay. Notably, the Court acknowleged the efforts of Gardy & Notis, LLP as follows:
"The fact that the action was commenced in New York on the day after the announcement of Topps' going-private transaction shows the tenacity and ability of this plaintiff and his counsel to act quickly and forcefully to challenge what they believe to be improper actions by the Topps board of directors."
The case is In re: The Topps Co., Inc. Shareholder Litigation, Index No. 07-600715, New York State Supreme Court, New York County.
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New York State Supreme Court notes the "tenacious" efforts of Gardy & Notis, LLP to "quickly and forcefully" challenge corporate misconduct
December 25, 2011