Bill Ackman’s hedge fund Pershing Square Capital Management is facing a class action lawsuit from minority investors over its $900m stake increase in Howard Hughes Holdings, which boosted Pershing’s ownership to nearly 47%, according to a report by Bloomberg.
Filed in the Delaware Court of Chancery, the suit alleges that Pershing “coerced and bullied” Howard Hughes’ board into approving terms that gave Ackman operational and managerial control at an “unfair” price, disadvantaging minority shareh...
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