Galloway Capital reported a 2.87% stake in WW International, and said the company is solvent and should “in no way” pursue a Chapter 11 filing to reduce its debt burden.
- Chapter 11 would “make little sense” since WW’s debt isn’t due to mature until 2028 and 2029, respectively, Galloway Chief Investment Officer Bruce Galloway said in a letter to WW
- Galloway believes Chapter 11 filing would impair holders and be an “extreme breach” of the board’s fiduciary duty
- If WW pursues a Chapter 11 filing, Galloway intends to pursue remedies including the formation of an Equity Committee to protect the ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.