What the Lawsuit Seeks
Drulias is asking the court to compel TreeHouse to produce formal board materials related to the merger, as well as director and officer questionnaires—documents he says are essential to evaluating the transaction.
The complaint argues shareholders have a “credible basis” to question the deal, noting that Delaware courts have described this standard as “the lowest possible burden of proof under Delaware law.”
Industry Impact and Responses
The parties did not immediately respond to requests for comment Thursday.
Following the acquisition, Investindustrial’s food and beverage portfolio would span more than 85 manufacturing plants and employ roughly 16,000 people, according to Andrea C. Bonomi, chair of Investindustrial’s industrial advisory board.
Drulias is also seeking reimbursement of legal fees and expenses.
TreeHouse Foods is a North American private-label food and beverage manufacturer supplying retailers such as Safeway, Trader Joe’s, Target and Whole Foods.
Drulias is represented by Kimberly A. Evans, Lindsay K. Faccenda, Daniel M. Baker and Jason Leviton of Block & Leviton LLP. Counsel for TreeHouse was not immediately available Thursday.
