A California district court has denied a motion for injunction from the Key West Police Officers & Firefighters Retirement Plan, plaintiffs, to stop the acquisition of Skechers by 3G Capital Partners, our colleagues at the American edition of SGI report. We reported on the lawsuit in June.
The plaintiff, the court says, has failed to specify information that has not yet been supplied, regardless of Skechers’ failure to file Schedule 13E-3 with the US Securities and Exchange Commission (SEC) when it decided to go private. And, the court continues, the Greenberg family holds a majority (about 60%) of the voting power in Skechers, so the plaintiffs are merely deciding between a cash-out share or a rollover.
