Donald W. Callender, an Orange County businessman...
Donald W. Callender, an Orange County businessman who once owned Marie Callender Pie Shops, has filed a fourth lawsuit against Ramada Inns, which bought the restaurant chain two years ago. The suit contends that Ramada directors shortchanged stockholders and the company by rejecting a $10-a-share buyout offer from an affiliate of the Hyatt hotel chain. Callender, who sold Marie Callender’s to Ramada in 1986 for about $80 million in cash and stock, is Ramada’s second-largest shareholder. The latest lawsuit, filed in Orange County Superior Court in Santa Ana, seeks $371 million in damages on behalf of Ramada shareholders.
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