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Court hearing set in lawsuit against Reynolds-Lorillard merger
Class Action |
2014/12/24 16:26
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A Delaware judge is set to hear arguments in a lawsuit challenging the planned $25 billion merger of cigarette makers Reynolds American Inc. and Lorillard Inc.
The judge was to hear arguments Friday on a motion by plaintiffs who are seeking a preliminary injunction and a motion to expedite the case.
The two companies last week announced that they would hold special shareholder meetings Jan. 28 in North Carolina, where both companies are headquartered, to vote on the merger.
The combination of the two companies would create a formidable competitor for Virginia-based market leader Altria Group, owner of Philip Morris USA.
Reynolds sells Camel, Pall Mall and Natural American Spirit cigarettes. Lorillard's brands include Newport, Maverick and Kent.
Federal regulators are conducting an antitrust review of the deal. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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