|
|
Article: Two firms sue Movie Star, Sanmark over acquisition.
- Article from:
- Daily News Record
- Article date:
- December 15, 1987
- Author:
CopyrightCOPYRIGHT 1987 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Two Firms Sue Movie Star, Sanmark Over Acquisition
Two companies filed suit in State Supreme Court against Movie Star, Inc., its former principal shareholders and Sanmark-Stardust, Inc., challenging Sanmark's recent acquisition of about 65 percent of Movie Star.
The action was initiated by WLB Acquisition Corp. and its parent, WLB Holding Corp., which contend that the deal between Sanmark and Movie Star breached a merger agreement between Movie Star and the plaintiffs.
WLB Holding and WLB Acquisition maintain in court papers that they entered into a merger agreement with Movie Star, a lingerie and loungewear manufacturer, last Sept. 16. The ...