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Revlon Shareholders Seek Bankruptcy Committee, Cite Stock Surge

Aug. 9, 2022, 6:05 PM

A trio of Revlon Inc. minority shareholders are seeking an official committee to represent common equity interests in the cosmetics giant’s Chapter 11 proceedings, saying the stock price “has more than quadrupled in value” since the case began in June.

The individual shareholders, represented by White & Case LLP, continued their pursuit of a formal voice in Revlon’s bankruptcy case after indicating interest last month. They filed a motion Tuesday asking for an order directing the Justice Department’s bankruptcy monitoring division—the U.S. Trustee—to appoint a committee funded by the company’s estate to represent them and other “non-insider stockholders” who aren’t ...