Bemis Escapes Stockholder Suit Over Amcor Acquisition Statements

A Bemis Co. stockholder action alleging the packaging manufacturer made false or misleading statements about Amcor Ltd.'s proposed acquisition of the company was dismissed from Manhattan federal court Tuesday.

Bemis filed a proxy statement touting the merits of the merger, which its shareholders ultimately approved. The proposed class complaint alleged the proxy made misleading statements and omitted material facts about Bemis management and financial advisor Goldman Sachs & Co. LLC’s potential conflicts of interest and its calculations of the merger’s estimated benefits, among other things.

The claims failed for several reasons, the U.S. District Court for the Southern District of ...