A group led by British investor Solomon...
A group led by British investor Solomon Lew has agreed not to buy any more securities in RB Industries, according to a filing with the Securities and Exchange Commission. As part of the April 20 standstill agreement, the company has promised not to propose a business combination or other similar transaction or change its board. The terms of the agreement will remain in effect for 90 days, according to the filing. The group, which includes three of the company’s officers and directors, controls about 1.2 million common shares or 33.9% of the Los Angeles-based furniture maker.
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