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J. Crew settles shareholder suit for $16 million

The retailer and its private equity owners settled the suit over its $3 billion leveraged buyout

The J. Crew Group finally closed the door on its contentious shareholder lawsuit late last week. According to a filing in Delaware Chancery Court, the retailer agreed to settle the suit over its leveraged buyout for $16 million.

The lawsuit, brought by a group of shareholders, alleged that J. Crew failed to get the highest-possible price in its agreement to sell the company to private equity firms TPG Capital and Leonard Green & Partners for $3 billion.

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