A tentative $26. 9 million settlement has been reached in a 2-year old Delaware Chancery Court derivative suit accusing the former controlling investors and certain directors of global cannabis company Tilray Inc. of lining up a merger that unfairly favored the company’s private equity founders, according to a letter Monday.
The prospective settlement was reached after two mediation sessions before former Chancellor Andre G. Bouchard and remains subject to court approval, according to the short letter from another former chancellor, William B. Chandler III of Wilson Sonsini Goodrich & Rosati PC, counsel to an independent director special litigation committee for Tilray.
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Published: July 20, 2022
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