Posted Friday, January 22, 2010 12:41 PM | Contributed by Jeff
After several hours of negotiations, the 11 court cases fighting the Cedar Fair sale have been consolidated into one. Nineteen attorneys deliberated in an Erie County jury room and decided the first case filed, on behalf of Indiana resident Todd Miller, would lead the legal battle against the acquisition of the amusement company.
Read more from The Sandusky Register.
He also questioned how two corporations, supposedly acting independently, can choose the same 16 companies for financial analysis without being questioned by the board. The 16 companies included theaters, restaurants, casinos and entertainment, but left out Disney, Great Wolf Resorts and Vail Resorts.
That's an interesting angle. I mean, it feels dirty, but it doesn't mean that there's anything illegal about it.
Given the information concerning the no vote by the largest unitholder, the lawsuit may be unnecessary anyway. Maybe they should hold off on those court costs.
The question that I start to ask though is, would any of this information aid in an effort to replace the board? I'm not convinced that this is just about not getting a fair price.
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