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Ares, Citi, Jefferies Win Again in $497 Million Apollo Deal Suit

Affiliates of Ares Management Corp., Citigroup Inc., and Jefferies Financial Group prevailed at Delaware’s highest court Wednesday over claims they breached their duties to investors in an under-priced $497 million sale of Smart and Final Stores Inc. to Apollo Global Management Inc.

ITG Says Delaware Court Rewrote Deal Over Four Reynolds Brands

ITG Brands LLC argued Wednesday that Delaware’s premier business court erroneously rewrote its purchase agreement for the Winston, Salem, Kool, and Maverick cigarette brands, making it liable for payments under a 1990s-era tobacco settlement it never entered.

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Netflix Has a Huge Opportunity With the DC Studios Superheroes

In a corner bungalow on the Warner Bros. lot in Los Angeles, a towering Superman statue casts a shadow across the desk of Peter Safran, co-head of DC Studios. The surface of the workspace is buried under Batman and Wonder Woman comic books, merchandise and annotated scripts.