Varipapa VS. Warner Music Group Corp.

Just when you thought that the news of this sale was over, Warner gets back in the news with a very upset shareholder that has filed a complaint against of the sale of the company. To put this in the easiest terms possible, basically minority shareholder Barbara A. Varipapa is upset because the minority shareholders had no “say” in the sale of the company. Varipapa said, “The company’s shares are already locked up in favor of the proposed transaction, rendering the minority shareholders’ vote meaningless.” Since the largest shareholders were the only ones to agree to vote in favor of the transaction, Varipapa is claiming that “the deal is inadequate and includes onerous provisions that preclude a superior offer.” In other words, it’s all about the money. Varipapa is seeking to represent all Warner shareholders in her bid to bar the deal.

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