Pair of Heinz shareholders to drop their lawsuits
By Len Boselovic / Pittsburgh Post-Gazette Two H.J. Heinz shareholders who filed lawsuits over the $28 billion buyout of the Pittsburgh ketchup maker today asked a federal judge to dismiss their complaints, saying the price tag is fair.
Attorneys Alfred G. Yates Jr. and Gerald L. Rutledge, who are representing the two shareholders, filed dismissal motions with U.S. District Judge David S. Cercone after reviewing confidential documents related to negotiations between Heinz and its proposed buyers, Warren Buffett's Berkshire Hathaway and 3G Capital, a New York private equity firm.
The... read more