Albertsons Aimed to Miss After Acquiring Plated, Fraud Suit Says

Albertsons Cos. was hit with a fraud lawsuit in Delaware claiming it ripped off the former owners of Plated, a web-based meal kit delivery service it bought for $300 million, by bending over backward to avoid hitting revenue milestones that would have led to an additional “earnout” payment.

“Albertsons lured the Plated shareholders into the sale of their business with promises” about “its plans to fully support and grow” it, then “carved out the parts of Plated it wanted” and “undercut” the rest of the business, the Chancery Court complaint says.

The partly redacted suit concerns the 2017 acquisition of ...