Jun 11, 2010
Cravath, Casey’s Escalate Convenience Store Skirmishes
The battle between Alimentation Couche-Tard and its hostile target, fellow convenience store operator Casey’s General Stores, has gotten nasty. Casey’s and its lawyers at Cravath, Swaine & Moore filed a blistering lawsuit against Couche-Tard on Friday, claiming the Canadian owner of the Circle K chain executed a “pump and dump” scheme with Casey’s stock designed to make millions in profits while at the same time torpedoing Casey’s share price at the exact moment Couche-Tard made public its offer for Casey’s.