Skechers Shareholders Sue for Higher Takeover Price

Investment firms, including AQR Capital Management, are suing Skechers for a higher valuation of their shares following the companys acquisition by 3G Capital. The firms believe the $63 per share deal was too low and have filed appraisal actions in Delawares Court of Chancery. At least five cases have been filed, with over ten million shares undergoing appraisal. Despite settlement discussions, no agreement has been reached. The merger, approved by the Greenberg family, was not put to a shareholder vote. Additionally, a class action lawsuit challenges the deal, alleging it favored the Greenberg familys interests over the best possible price for all shareholders.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.