Caribou Coffee Secures Post-Trial Win in Appraisal Action

On December 15, Judge Ronald L. Abrams of the District Court of Hennepin County, Minnesota, issued a post-trial opinion in favor of Caribou Coffee Company, Inc. in an appraisal action stemming from Skadden client Joh. A. Benckiser Company's acquisition of Caribou Coffee in January 2013. Three related stockholders dissented from the merger and asked the court to appraise the "fair value" of their Caribou Coffee shares. Judge Abrams held that the fair value of the Caribou Coffee stock at the time of the transaction was roughly 10 percent less than the transaction price.