Court dismisses Essendant class action suit

摘要

A US court has dismissed a class action lawsuit brought against Essendant's former board of directors and Sycamore Partners over allegations of breaches of fiduciary duty. At the end of October 2018, Essendant shareholders filed a complaint in a Delaware court. They alleged the company's board had failed to obtain the highest reasonable value for the wholesaler by agreeing to be acquired by Staples' owner Sycamore Partners ahead of a bid by S.P. Richards owner Genuine Parts.