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Del Monte, Barclays Pay $89.4 Million to Settle Suits Over Private Buyout

October 6, 2011

Del Monte Foods Co. and Barclays Plc (BARC) agreed to pay $89.4 million to settle investor lawsuits over the buyout of the pet-food maker by a group of private-equity firms led by KKR & Co.

‘Added Premium’

Randall Baron, one of the lawyers who represented an Illinois-based pension fund that challenged the Del Monte buyout, said the settlement “delivers to Del Monte’s shareholders the added premium they rightly deserved.”

“We are gratified that our litigation sparked a pullback among the major banks from advising parties on both sides of a transaction,” Baron, a partner in the San Diego-based law firm Robbins Geller Rudman & Dowd, said in a statement

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