Albertson’s to Settle Shareholder Suit
Albertson’s Inc., the supermarket chain being sold to a group led by Supervalu Inc., plans to settle a shareholder class-action lawsuit tied to the deal.
Albertson’s said it had entered into a memo of understanding to settle the suit, according to a regulatory filing. The Boise, Idaho-based supermarket chain said in the filing that it had agreed to disclose more information about the circumstances and events leading up to the acquisition agreement.
Supervalu agreed in January to buy more than 1,110 Albertson’s stores to become the second-largest U.S. grocer.
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