April 4 (Bloomberg) — Schawk Inc., which provides digital- imaging services and art production, was sued by a pension fund claiming a planned $577 million buyout by funeral-equipment maker Matthews International Inc. is unfair.
The transaction favors a series of Schawk family trusts, which own 62 percent of the shares and will hold more than 10 percent of Matthews's stock, according to a complaint filed today in Delaware Chancery Court in Wilmington.
"There is no evidence that there was any shopping of the company prior to entry into the deal," lawyers for Iron Workers Local No. 25 Pension Fund contend in court papers.
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