CASESMorton Industrial Group, Inc. Class Action for Self-Dealing and Breach of Fiduciary Duty
Gardy & Notis, LLP has been appointed by the Court as lead counsel for shareholders of Morton Industrial Group, Inc. (NASDAQ: MGRP) challenging the vote on a going-private transaction based on allegations that certain members of management were improperly included as minority shareholders for purposes of a majority of the minority vote condition, and whereby a prior voting agreement between the special committee member and the controlling shareholder prevented the special committee from providing independent representation to minority shareholders.
Gardy & Notis, LLP achieved a settlement of the case whereby the transaction would subject to an unwaivable majority of the minority vote condition that excluded company management and whereby the prior voting agreement would be terminated.
The case is Kahn v. Morton Industrial Group, Inc., No. 2006 CV 114628, Georgia Superior Court, Fulton County.
For more information regarding the lawsuit or to obtain a copy of the complaint or any Court filings, please contact us.