Weber, Byron Trott Now Know Lead Plaintiffs in Merger Litigation

Two investors who jumped to file a lawsuit challenging grill maker Weber Inc.'s $2.3 billion take-private sale to billionaire investment banker Byron Trott will lead the consolidated litigation, a Delaware judge has decided.

Three groups of stockholders had sued separately in the Delaware Court of Chancery. Each alleged Weber’s board and its controller, Trott’s BDT Capital Partners LLC, breached their fiduciary duties by allowing BDT to take Weber private through a “squeeze-out” merger that wasn’t entirely fair to its minority shareholders.

“It is a close call” as to who should be the lead plaintiffs, Chancellor Kathaleen St. Jude McCormick said ...