Coughlin Stoia Geller Rudman & Robbins LLP Announces Hearing on Shareholder Effort to Enjoin Restoration Hardware Proposed Acqui
May 19 2008 - 1:59PM
Business Wire
Marin County Superior Court Judge Lynn O�Malley Taylor has ordered
that a hearing be held June 11, 2008 on the effort of shareholders
to enjoin the proposed acquisition of Restoration Hardware, Inc.
(NASDAQ:RSTO) by an investment group led by CEO Gary Friedman and
Catterton Partners. The action alleges breach of fiduciary duty in
connection with the decision of the Restoration Hardware board to
sell the Company to Friedman and Catterton for $4.50 per share.
Sears Holdings had previously indicated it was willing to pay a
higher price per share to acquire Restoration Hardware.
Shareholders will be asking the Court to enjoin certain contractual
provisions that preclude Sears Holdings from taking its proposal
directly to Restoration Hardware�s shareholders. Plaintiffs are
represented by the law firms of Coughlin Stoia Geller Rudman &
Robbins LLP and The Weiser Law Firm. For more information, contact
Randall J. Baron or Stephen J. Oddo of Coughlin Stoia at
800/449-4900 or 619/231-1058.
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