Nestle USA headquarters. Nestle's $1B Acquisition of Freshly Sparks Shareholder Lawsuit
This suit was surfaced by Law.com Radar. Read the complaint here.
May 08, 2023 at 02:47 PM
1 minute read
Commercial Litigation
Nestle and Honey Buyer were slapped with a shareholder lawsuit on Friday in Delaware Court of Chancery over Nestle's recent spinoff of the food delivery platform Freshly, which Nestle acquired in 2020 for roughly $1 billion. The suit, which is not publicly available, accuses Nestle of failing to make earnout payments to Freshly shareholders pursuant to the merger agreement. The suit was brought by Morris Nichols Arsht & Tunnell on behalf of Shareholder Representative Services LLC. The case is 2023-0498-, Shareholder Representative Services LLC vs. Nestle USA Inc. et al.
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