On December 1, 2011, the Delaware Court of Chancery issued an order and final judgment approving Del Monte Corporation's and Barclays Capital's $89.4 million settlement of the stockholders' derivative lawsuit arising out of Del Monte's leveraged buyout by Kohlberg Kravis Roberts & Co. L.P., Vestar Capital Partners and Centerview Partners. The lawsuit had led to a preliminary injunction delaying the buyout and enjoining the buyer's deal protection devices in the merger agreement due to Barclays' improper activities when providing buy-side financing while advising Del Monte in the sale.

The court found that the settlement was fair, reasonable and adequate, and in the best interests of the stockholders. It ordered that all claims in relation to the derivative suit be dismissed.

For more information on the terms of the settlement and the related litigation, see Legal Update, Del Monte and Barclays Settle Lawsuit that Raised Questions About Buy-Side Financing.