Traeger, Inc. has amended its Original Stockholders Agreement to allow the company to appoint or terminate its Chief Executive Officer without the prior consent of certain investors, if the board determines it's necessary to comply with fiduciary duties. This change was in response to a class action lawsuit filed by Bruce Taylor challenging the CEO Consent Provision. The lawsuit was dismissed as moot after the amendment and Traeger has agreed to pay $390,000 in legal fees and expenses. The court order closing the action is contingent on the company confirming the dissemination of this information to the putative class.
Names Mentioned: - Traeger, Inc. - AEA Investors Fund VI LP - AEA TGP Holdco LP - 2594868 Ontario Limited - TCP Traeger Holdings SPV LLC - Bruce Taylor - Raul Alvarez - Dominic Blosil