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Blackhawk CEO Talbott Roche Pays $30 Million to End Buyout Case

Oct. 6, 2022, 7:25 PM

Blackhawk Network Holdings Inc. CEO Talbott Roche exited litigation over the company’s $3.6 billion take-private buyout after a Delaware judge approved her $29.5 million class action settlement with former investors led by a pension fund.

Vice Chancellor Paul A. Fioravanti Jr. signed off on the agreement Wednesday, bringing an end to the long-running dispute in the state’s Chancery Court. The deal hands $5.6 million in legal fees and cost reimbursement to counsel for the pension fund, the City of Warren (Mich.) General Employees’ Retirement System.

The settlement resolves claims that Roche and Blackhawk board chairman Bill Tauscher dodged pressure from ...