WILBRAHAM, Mass. —The Hampden County Superior Court dismissed S. Prestley Blake's derivative lawsuit against Friendly Ice Cream's independent directors, Michael Daly, Steven Ezzes and Burton Manning, and as against one of its former independent directors, Charles Ledsinger.
According to a news release, the court ruled that Blake's complaint alleged no facts suggesting that these outside directors violated any fiduciary duty of loyalty or of good faith owed to Friendly's shareholders or that any of these directors received any improper personal benefit.
"We are pleased with the Court's decision to dismiss the lawsuit against the Company's independent directors," said Gregory A. Pastore, the company's vice president and general counsel. "This lawsuit has been an unnecessary distraction to the Company and we look forward to the full conclusion of the Blake litigation."
