Golden State Bancorp won approval of a settlement of shareholder suits alleging investors didn't get enough for their shares in a $2.5 billion acquisition of the California thrift by a San Francisco-based financial institution owned by financier Ronald O. Perelman. A Delaware judge approved the disclosure settlement, but chopped $800,000 out of the $1.3 million in fees lawyers for Golden State shareholders sought in the case.
January 19, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Golden State Bancorp Inc. won approval of a settlement of shareholder suits alleging investors didn’t get enough for their shares in a $2.5 billion acquisition of the California thrift by a San Francisco-based financial institution owned by financier Ronald O. Perelman.
Delaware Court of Chancery Chancellor William B. Chandler III approved the disclosure settlement Jan. 7, but chopped $800,000 out of the $1.3 million in fees lawyers for Golden State shareholders sought in the case.
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