LVK Designated Liaison Counsel for Investors in Class Action related to Craft Brew Alliance MergerMay 12, 2021
LVK was recently appointed as liaison counsel in three consolidated class actions contesting Craft Brew Alliance’s cash-for-stock merger with Anheuser-Busch.
LVK, as local counsel for a Craft Brew Alliance investor, and working with national counsel Block & Leviton LLP, filed a class action complaint alleging claims for breach of fiduciary duties and aiding and abetting against Anheuser-Busch, Anheuser-Busch InBev SA/NV, and the former directors of Craft Brew Alliance.
Two other plaintiffs filed similar class action complaints related to the merger. After consolidating the cases, the court addressed the issue of who should be designated as lead plaintiff, lead counsel, and liaison counsel.
The court ruled that LVK, Block & Leviton, and their investor client presented the stronger case to lead this litigation. The court based its decision in significant part on the relative quality of the plaintiffs’ pleadings.