Albertsons announced Monday that the State of Washington Supreme Court has granted the company’s motion to expedite the review of the temporary restraining order that has blocked the retailer from paying a $6.85 per common share special dividend to shareholders. The date for the review has been moved to January 17, 2023, from the previously set February 9, 2023.
The payout to stockholders was originally scheduled to take place on November 7, but the Attorney General of the State of Washington, Bob Ferguson, filed a lawsuit on November 1 to block Albertsons Companies from the payout before a proposed merger with The Kroger Co. could be reviewed by state and federal antitrust enforcers.
Albertsons maintains that the claim brought by the Attorney General of the State of Washington, and the similar lawsuit brought by the Attorneys General of California, Illinois, and the District of Columbia, provide no legal basis for preventing the payment of the special dividend.
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