- Neelys Landing man shot, killed by highway patrol trooper after traffic stop (05/01/16)43
- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)48
- Missouri House votes to allow concealed weapons without permits (04/28/16)8
- River Ridge Winery changes hands (05/02/16)
- Police report filed, but no charges in incident at Cape Central (04/29/16)40
- 2016 All-Missourian Boys Basketball (04/29/16)
- Statement: Man says copsí good work drove him to grow his own marijuana (05/01/16)1
- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Senator introduces bill for I-57 that would connect Sikeston with Little Rock (04/28/16)4
- Hopper Road to close for months during construction of Veterans Drive (04/27/16)9
Applebee's settles lawsuit against sale
OVERLAND PARK, Kan. -- Applebee's International Inc. has agreed to settle a class-action lawsuit filed by a union challenging the proposed $1.9 billion sale of the restaurant operator to IHOP Corp.
The casual-dining chain won't pay any money in the settlement but has agreed to provide its shareholders with additional information about the sale.
The New Jersey Building Laborers Pension and Annuity Funds filed the suit ten days after the deal with IHOP was announced. The union alleged the transaction robbed Applebee's shareholders of financial benefits they might receive if Applebee's stayed independent and sold off its remaining company-owned locations to franchisees.