Kaskela Law LLC has filed a stockholder derivative and class action complaint on behalf of Coty Inc. (“Coty” or the “Company”) (NYSE: COTY) and the company’s public stockholders in the Delaware Court of Chancery, Case No. 2019-0336-AGB.
The complaint alleges that Coty’s directors breached their fiduciary duties in connection with their response to a partial tender offer (the “Tender Offer”) for Coty shares by an affiliate of JAB Holding Company S.à r.l., and for causing Coty to breach a stockholders agreement in connection with the Tender Offer (the “Stockholders Agreement”).
On July 13, 2020, Chancellor Bouchard denied defendants’ motions to dismiss the complaint. The Court’s Memorandum Opinion is available at https://courts.delaware.gov/Opinions/Download.aspx?id=309430. The case is currently in the discovery phase.
For additional information about this action please contact Kaskela Law LLC (D. Seamus Kaskela) at (484) 258 – 1585, or by email at [email protected].