Judge Rejects Bid to Block Serta Simmons Restructuring


A New York judge cleared the way for Serta Simmons Bedding LLC to move forward with a disputed restructuring of its debt, ruling against holdout investors, including Apollo Global Management Inc., that accused the mattress maker of treating them unfairly.

Apollo, Angelo Gordon & Co. and Gamut Capital Management LP had sued to block the company’s proposed balance-sheet transaction, but Justice Andrea Masley of the Supreme Court of New York on Saturday rejected their request for an injunction.

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