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January 9, 1999 | (Leslie Earnest)
St. John Knits Inc. founders were hit with another lawsuit Friday by a shareholder claiming that a $490-million buyout offer by Chief Executive Robert E. Gray and his family is "unfair and harmful" to other shareholders. The lawsuit, filed in Orange County Superior Court, alleges that the $28 per share bid would give the Grays full ownership of the company at the expense of other stockholders, who would not realize the fair value of their stock. St.
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BUSINESS
January 9, 1999 | (Leslie Earnest)
St. John Knits Inc. founders were hit with another lawsuit Friday by a shareholder claiming that a $490-million buyout offer by Chief Executive Robert E. Gray and his family is "unfair and harmful" to other shareholders. The lawsuit, filed in Orange County Superior Court, alleges that the $28 per share bid would give the Grays full ownership of the company at the expense of other stockholders, who would not realize the fair value of their stock. St.
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