Albertsons granted expedited review of special dividend restraining order

Albertsons (ACI) announced the State of Washington Supreme Court has granted the company’s motion to hold an expedited review of the temporary restraining order against its previously announced $6.85 per common share special dividend. The date for the review has been moved forward to January 17, having previously been set for February 9. Albertsons "continues to maintain that the claim brought by the Attorney General of the State of Washington, and the similar lawsuit brought by the Attorneys General of California, Illinois, and the District of Columbia, are meritless and provide no legal basis for preventing the payment of the Special Dividend. Albertsons’ position has been supported by favorable rulings in both Circuit and District courts in the District of Columbia and a Washington State court," the company said in a statement. Albertsons proposed merger with Kroger (KR) is continuing through required regulatory review, it added.