Plaintiff, formerly a shareholder of nonparty American Apparel, Inc., alleges that defendants, together the largest creditor of American Apparel at the time of its bankruptcy in October 2015, exercised de facto control over the corporation, which they used to prevent it from accepting an advantageous acquisition offer, to the detriment of equity holders. Defendants recovered in full on their claims in bankruptcy. The motion court correctly dismissed the complaint for lack...
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