CASES
Coca-Cola Enterprises, Inc. (2010)
Summary of Case:
A securities class action has been filed against Coca-Cola Enterprises, Inc. (CCE) ("Coke" or the "Company") on behalf of all purchasers of Coca-Cola Enterprises, Inc. common stock, in the Georgia Superior Court for Fulton County.
The claims arise from the transaction between Coca-Cola Enterprises, Inc. and its controlling shareholder, The Coca-Cola Company ("Coke") pursuant to which Coke will acquire all of the North American operations of CCE in exchange for its 34% interest in the Company, and the assumption of certain debt (the "Asset/Share Exchange").
The complaint alleges that pursuant to the terms of the transaction, CCE shareholders will receive new shares of CCE stock that will be worth considerably less than the shares they currently own. As a result, CCE shareholders will be injured directly as a result of this transaction. The complaint further alleges that the Asset/Share Exchange is unfair both as to price and process. Accordingly, the directors of CCE have breached their fiduciary duties of loyalty, and good faith owed to CCE's shareholders
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.