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Cravath, Swaine & New York. (Photo: Mike Scarcella/ALM) Cravath, Swaine & Moore in New York. (Photo: Mike Scarcella/ALM)

Cravath Swaine & Moore is facing a shareholder lawsuit alleging it helped a publicly traded grocery chain conduct a “sham auction” that ensured it would be sold to private equity giant Apollo Global Management.

The allegation against one of the best-known law firm brands in M&A work was made in a complaint filed late last week in Delaware Chancery Court. Cravath was paid a $5.5 million flat fee for its representation of The Fresh Market board of directors in the company’s nearly $1.4 billion cash sale to Apollo in late 2016, the suit says.

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