Avia shareholders sued to bar a sale to Reebok.
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In a suit filed in Portland, Ore., a group of shareholders sought to halt the planned $180-million acquisition of Avia Group International, saying the price offered for the footwear maker by rival Reebok International was too low. The complaint was filed on behalf of Clem Eischen, who owns 500 shares of Avia, and Robert Withers, who owns 954 shares. John V. Douglas, Reebok’s general counsel, said: “Frankly, we think the suit is without merit.”
