A Pantry Pride holder filed suit against Revlon.
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The lawsuit was filed in the Delaware Court of Chancery to enjoin and declare invalid the “poison pill” rights authorized by Revlon’s board of directors earlier this week. The suit was filed by MacAndrews & Forbes Holdings, controlling shareholder of Pantry Pride, and names as defendants Revlon; its chairman, Michael C. Bergerac, and certain other members of Revlon’s board of directors. A hearing on Pantry Pride’s motion for a preliminary injunction is scheduled for Sept. 10.
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