Castle Brands Board (ROX)

[tedkov]

Castle Brands Shareholders File Lawsuit Over Merger Bid - (via Business Journal)
September 11, 2019
Tags: Castle Brands Pernod Ricard United States Corporate Affairs Mergers &Acquisitions

A group of Castle Brands Inc. shareholders are attempting
to block the $223 million purchase of the company by Pernod Ricard.
The shareholders allege that the purchase price of $1.27 per share is insufficient in light of the company's growth prospects and that deal-protection clauses in the merger agreement preclude other
companies from submitting successful competing offers. In addition, shareholders allege that senior management of Castle Brands obtained personal benefits for their own self interests in agreeing to sell the company at that price that are not being shared with common stockholders.

Castle Brands did not immediately respond to requests for a comment.

To contact the law firm on behalf of shareholders of
Castle Brands for more information as to how you can participate at no cost or expense call toll free 800.511.7037
or [e-mail]

All rights reserved