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Shareholders Fight Revlon Stock Buyout

WILMINGTON, Del. (CN) - Shareholders say Revlon CEO Ronald Peterman and others are taking advantage of depressed stock prices to buy them out at the unfair price of $3.74 a share, or $75 million. Also sued is McAndrews and Forbes Holdings, which owns 58% of Revlon Class A shares, and other Revlon executives.

Plaintiffs are represented by Rosenthal, Monhait & Goddess in Chancery Court.

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