The plaintiffs alleged that Bowl America’s board concealed key details of the deal from shareholders and failed to secure a fair price for the company’s stock. They contended that their shares were liquidated for less than they would have fetched on the open market, ignoring the true value of the company’s assets.
Legal Representation and Next Steps
The plaintiffs are represented by Daniel Sommers and Richard Speirs of Cohen Milstein Sellers & Toll PLLC, along with Brett Krantz of Kohrman Jackson & Krantz LLP. The defendants, which include members of Bowl America’s board and Bowlero Corp., are represented by John Tucker, Jarren Ginsburg, and Jonathan Friedman of Foley & Lardner LLP, as well as Benjamin Schuman, Meagan Pace, and Alexa Ain of DLA Piper.
The upcoming fairness hearing on October 31 will provide an opportunity for any objections to the settlement to be heard. If the settlement is finally approved, it will mark the conclusion of a significant legal battle over the terms and fairness of the Bowl America-Bowlero merger.
