Winn-Dixie Class Action Moves Past Motion to Dismiss
On December 12, 2012, Robbins Geller and its co-counsel achieved a significant victory in the litigation concerning the takeover of Winn-Dixie Stores, Inc. by BI-LO, LLC. Plaintiffs alleged that the takeover of Winn-Dixie was the product of corporate misconduct by Winn-Dixie’s board of directors and BI-LO, depriving the former Winn-Dixie shareholders of as much as $200 million in value.
Defendants moved to dismiss the case, arguing that plaintiffs had no standing to allege their claims under Florida law. Defendants further argued that plaintiffs’ claims were barred by the Florida business judgment rule, and that plaintiffs’ claims did not have sufficient potency to state causes of action.
The court denied defendants’ substantive motions to dismiss. Robbins Geller and its co-counsel are now proceeding with a complaint against Winn-Dixie’s board of directors and BI-LO, seeking as much as $200 million in damages for their respective roles in the unlawful takeover of Winn-Dixie.
In re Winn-Dixie Stores, Inc. Shareholder Litigation, No. 16-201-CA-010616, Order on Defendants’ Motions to Dismiss Lead Plaintiffs’ Second Amended Complaint (Fla. Cir. Ct. Dec. 12, 2012).