Law360 Highlights Robbins Geller’s Delaware Practice Group’s $71 Million Recovery for Premier Investors

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March 11, 2024

Law360 reported that healthcare-purchasing giant Premier, Inc. agreed to a $71 million recovery in a derivative stockholder suit in Delaware’s Chancery Court.

According to the article, in 2013 Premier went public with two classes of stock: publicly traded Class A; and Class B, which was reserved for healthcare companies affiliated with Premier directors and other pre-IPO investors.

The case concerns a Premier restructure, approved in 2020, that involved eliminating the dual-class structure and that included a $473.5 million early termination payout for certain holders of Premier’s Class B stock. Investors allege that those payouts were grossly unfair to Premier and constituted corporate waste, and that Premier misled Class A stockholders about the restructuring, for which they didn’t receive any payout.

“We’re pleased with this outcome. Companies have a fiduciary responsibility to their investors, who deserve fair treatment at all times,” said partner Randall J. Baron.

The recovery is pending court approval.

Robbins Geller attorneys representing shareholders include Randall J. Baron, Benny C. Goodman III, and Christopher H. Lyons.

Read the Law360 article (login required): https://www.law360.com/articles/1804363/-71m-deal-proposed-to-end-premier-inc-share-exchange-suit

About Robbins Geller

Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex litigation firms, representing plaintiffs in securities fraud, shareholder derivative, antitrust, corporate takeover, and consumer fraud and privacy cases. With 200 lawyers in 10 offices, Robbins Geller is one of the world’s largest plaintiffs’ firms, and the Firm’s attorneys have obtained many of the largest securities, antitrust, and consumer class action recoveries in history.

The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. The Firm secured the largest-ever securities fraud class action settlement – $7.2 billion – in In re Enron Corp. Securities Litigation.

For media inquiries, please contact media@rgrdlaw.com or call (619) 338-3821.

City of Warren General Employees’ Retirement System v. Alkire, No. 2022-0207-JTL (Del. Ch.).

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