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CD&R and its two director-designees defend against claims in post-closing shareholder merger litigation

November 2023

Client(s) Clayton, Dubilier & Rice, LLC

Jones Day represents Clayton, Dubilier & Rice, LLC and two of its designees to the board of directors of Covetrus, Inc. in a post-closing shareholder challenge to the approximately $4 billion acquisition of Covetrus by funds affiliated with CD&R and another third party. In this putative class action, the stockholders allege that certain Covetrus directors breached their fiduciary duties in connection with the sale process and the disclosures in the proxy about the transaction, and that CD&R aided and abetted those purported breaches of fiduciary duty.

Bucks County Emps.' Ret. Sys., et al. vs. Clayton, Dubilier & Rice, LLC, et al., No. 2023-1151-LWW (Del. Ch.)

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