AS Roma stakeholders file lawsuit alleging president is trying to force out minority investors

4 May 2020

JP
Photo: PA Images The suit, filed with the Delaware Chancery Court, allege the club's president, James Pallotta, along with some others have breached their fiduciary duty by not disclosing certain information.

Members of Roma's holding company claim management is freezing out minority shareholders to attract bidders for the Italian club.

The suit, filed with the Delaware Chancery Court, allege the club's president along with some others have breached their fiduciary duty by not disclosing certain information.

Emil Gjerding Nielson nielson@offthepitch.com

Shareholders of AS Roma's holding company have filed a class action lawsuit with Delaware Chancery Court alleging the club's president and other investors are attempting to "wipe out" minority stakeholders to attract a potential bidder for the Italian team, according to US publication Law360.

"This case is about people who control the day-to-day management of a company trying to wipe out the economic interests of the company's minority members through a nakedly self-interested transaction in flagrant violation of the LLC's operating agreement," the suit read.

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