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Judge signals she’ll rule against Promega

Circuit Court Judge Valerie Bailey-Rihn has informed executives at Promega Corp. and shareholders involved in a lawsuit against the Fitchburg-based biotech company that she’s leaning toward a finding that minority shareholders had been oppressed in the legal sense.

Commenting in a court transcript after the conclusion of testimony, Bailey-Rihn told the company and the shareholders that that they could file briefs within 60 days with their recommendations on how she could remedy the situation, according to an article in the Wisconsin State Journal.

The suit was filed by three longtime shareholders who claimed that Promega CEO Bill Linton used bullying and manipulative tactics to gain majority control of the company and that minority shareholders had no chance for a fair return on their investment for several decades.

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