September 10, 2003 |
Varsity Brands Inc., which makes uniforms for cheerleading, dance and sports teams, settled shareholder lawsuits challenging a planned $130.9-million sale to managers and investor Leonard Green & Partners. In April, Memphis, Tenn.-based Varsity said stockholders would receive $6.57 a share, a 40% premium at the time. Suits were filed in state courts in Delaware and Tennessee to stop the buyout. A shareholders' meeting to vote on the transaction is scheduled for Monday in New York.