Hotelier Wyndham International Inc. won a Chancery Court judge’s approval of a shareholders’ lawsuit that allows investors to buy $300 million in preferred shares as part of a $1 billion stock sale.
Vice Chancellor Jack Jacobs said that he “had no doubt” that Wyndham’s settlement with shareholders and the $1.12 million in legal fees and expenses sought by stockholders’ lawyers was fair and should be approved. Wyndham and the other companies in the case have agreed to pay the legal fees.
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