litigation
confidence high
sentiment neutral
materiality 0.55
Amcor and Berry voluntarily supplement proxy to address shareholder lawsuits over merger disclosure
Amcor plc
- Two lawsuits filed in NY (Thompson v. Berry, Miller v. Berry) allege proxy omitted material info; Amcor/Berry deny but supplement.
- Supplements clarify no NDAs with Party A/B/C, standstill provisions, and that post-closing board/employment talks occurred only after deal executed.
- Disclosures include Berry standalone projections: FY2025 revenue $10.2B, adj. EBITDA $1.8B; FY2029 revenue $11.6B, adj. EBITDA $2.1B.
- Companies emphasize voluntary nature and deny any admission of materiality or legal necessity of the additional disclosures.