CBS Corp. asked a Delaware judge on Wednesday to bless a move by its board to dilute the stock voting power of its controlling shareholder, the latest step in an ongoing legal battle for control of the mass media company.
Read moreThe CEO of Campbell Soup announced her retirement Friday as the company announced that it will undertake a strategic review to address poor sales in a climate that is increasingly hostile to processed foods and imported steel.
Read moreA Delaware judge denied CBS’ request for a temporary restraining order against controlling shareholder Shari Redstone, setting the stage for a possible board shake-up over a proposed merger with Viacom.
Read moreA Delaware judge has ordered a pause in a dispute between CBS and its majority shareholder that could decide control of the company.
Read moreCBS and its majority shareholder are duking it out in a Delaware court. CBS has sued its majority shareholder, National Amusements, ahead of a scheduled Thursday board vote on a dividend that would dilute National Amusement’s voting power from 80 percent to 17 percent, effectively giving CBS independence.
Read moreThe Eighth Circuit heard arguments Tuesday over whether the diversion of Fannie Mae and Freddie Mac’s profits to the U.S. Treasury Department after the 2008 financial crisis illegally stiffed shareholders.
Read moreAfter a period of uncertainty that has included a court injunction and the resignation of its chief executive officer, Xerox announced Sunday that it terminated a proposed $6.1 billion merger with Fujifilm, a deal that investors said undervalued the U.S. print firm.
Read moreThe activist hedge fund Elliott Management claimed victory in a shareholder battle for control of the Telecom Italia board, narrowly winning a vote Friday to install a cadre of well-known Italian businessmen as a majority over those loyal to the controlling stakeholder, French entertainment group Vivendi.
Read moreIn a ruling Thursday, the Seventh Circuit upheld the Federal Housing Finance Agency’s authority to divert Fannie Mae and Freddie Mac’s future profits to the U.S. Treasury Department as a condition of their $188 billion bailout during the 2008 financial crisis.
Read moreEmbattled Xerox CEO Jeff Jacobson has agreed to resign over his role in the printing company’s proposed $6.1 billion merger with Fujifilm to settle the claims of a major shareholder who is hoping to renegotiate the transaction or pursue a better deal.
Read moreA New York judge put the brakes on Fujifilm’s $6.1 billion bid to merge with print company Xerox based on evidence that embattled Xerox executive Jeff Jacobson was “hopelessly conflicted” and pushed for the deal to save his job as CEO.
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A Dr. Pepper Snapple Group shareholder claims in court that the impending $18.7 billion acquisition of the beverage behemoth by specialty coffee company Keurig Green Mountain is tainted by the alleged withholding of crucial information about the deal.
Read moreDenver Post’s Editorial page editor Chuck Plunkett won’t take credit for the idea, but since it is his job to call foul ball, he couldn’t help but see it through.
Read moreThe Delaware Chancery Court refused to dismiss shareholder claims stemming from Tesla’s controversial acquisition of SolarCity, finding it conceivable that CEO Elon Musk, a controlling stockholder of both companies, unduly influenced the board’s decision.
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China-based lending company Qudian Inc. allegedly duped investors into buying into the company’s initial public offering last year through false statements filed with the Securities Exchange Commission.
Read moreThe Plymouth County Retirement System filed a class action claiming Minnesota-based Patterson Companies colluded with competitors to fix prices of dental supply products, causing stock to drop 5 percent in a $160 million market cap loss when the scheme was revealed.
Read moreA federal judge ruled Allstate must face a securities fraud class action accusing it of lying about the cause of a purported spike in auto insurance claims, finding credibility in shareholders’ assertion that the insurer waited years to attribute the increase in claims to its reduced underwriting standards.
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OSI Systems Inc. faces a federal class action over a contract with the Albanian government that spurred investigations by the Securities Exchange Commission and the U.S. Department of Justice.
Read moreXerox’s third-largest shareholder doubled down Tuesday on an open letter opposing Japan-based Fujifilm’s $6 billion takeover of the print company by accusing executives of defrauding investors.
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