Simpson Thacher Obtains Dismissal of Shareholder Lawsuit Against CVC
02.01.13
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On January 31, 2013, the Delaware Court of Chancery dismissed a putative shareholder class action seeking damages in connection with the September 30, 2011 acquisition of BJ’s Wholesale Club, Inc. by affiliates of Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners. In dismissing the complaint, the Chancery Court held that plaintiffs had failed to allege a cognizable claim for breach of fiduciary duty by the BJ’s board or for aiding and abetting by CVC or Leonard Green. Simpson Thacher represents CVC in the litigation. The STB litigation team consists of Paul Gluckow, Mark Villaverde and Joshua Slocum.