Western Asset Mortgage Capital Corp. and its directors won’t have to face shareholder allegations that they filed an incomplete proxy for a proposed buyout by AG Mortgage Investment Trust, after the investor voluntarily tossed his suit.
Shareholder Eric Sabatini opted to throw out his lawsuit on Wednesday, which sought to block or otherwise rescind the proposed $7 million deal over alleged proxy misrepresentations and omissions, according to a notice filed in US District Court for the District of Delaware.
The case was closed just three months after it was filed, having alleged that the unit of Western Asset’s ...
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