Jul
13
Investors Challenging Dell Deal Hit a Clog in the ‘Proxy Plumbing’
By
Michael DellAssociated Press
Who actually owns a share of stock?
The complicated answer to that question has tripped up some Dell Inc. investors challenging the technology company’s 2013 sale to its founder, and it could save Dell millions of dollars.
A Delaware judge on Monday found that because owners of 922,975 Dell shares failed to continuously hold their stock during the buyout process, they forfeited their rights to challenge the deal price. He blamed legal precedent and quirks of the country’s arcane stock-management system, and expressed frustration at his own ruling…
Investors Challenging Dell Deal Hit a Clog in the ‘Proxy Plumbing’
