News - CNet to Appeal Court's Bylaw Ruling
Legal Marketing News
Bookmark This Site
CNet to Appeal Court's Bylaw Ruling
U.S. Court News | 2008/03/17 11:02
CNet Networks Inc. said Monday that it will appeal a lower court's decision on bylaw provisions to the Delaware Supreme Court.pLast week the Delaware Chancery Court ruled that CNet's bylaws do not give it the ability to prevent a group of dissident shareholders led by an affiliate of hedge fund Jana Partners LLC from nominating directors to the company's board or proposing an increase to the board's size./ppThe court's decision incorrectly calls into question the bylaws of a large number of companies with the same or similar bylaw provisions, CNet said in a release. The company said its stockholder-approved bylaws are fully applicable to the hedge fund./ppA costly and disruptive proxy contest is not in the best interest of stockholders, and Jana should not be able to seek control of CNet without paying a premium, the company said./ppIn a letter to CNet Chief Executive Neil Ashe issued earlier Monday, Jana managing partner Barry Rosenstein questioned whether an appeal would benefit shareholders. We believe it is time for fundamental strategic and operational change at CNet, and that the nominees we have proposed... have the collective experience and expertise to successfully implement this change, he wrote./ppJana had about a 10 percent stake in CNET as of Dec. 31./p


[PREV] [1] ..[2261][2262][2263][2264][2265][2266][2267][2268][2269].. [2365] [NEXT]
All
Legal News
Law Firm News
Court News
U.S. Court News
Legal Line News
Legal News Feed
Law Firm Press
Legal Opinions
Amazon workers strike at multiple faci..
TikTok asks Supreme Court to temporari..
Supreme Court rejects Wisconsin parent..
US inflation ticked up last month as s..
Court seems reluctant to block state b..
Harvey Weinstein hospitalized after ‘..
Romanian court orders a recount of pre..
Judge blocks Louisiana law requiring t..
PA high court orders counties not to c..
Court overturns actor Jussie Smollett'..
Tight US House races in California as ..
North Carolina Attorney General Josh S..
High court won’t review Kari Lake’s ..
What to know about the unprecedented f..
A man who threatened to kill Democrati..


   Law Firm Networks
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Eugene Criminal Defense Attorneys
Eugene DUI Lawyer. Oregon Criminal Defense
www.mjmlawoffice.com
New York Adoption Lawyers
New Jersey Adoption Attorneys
New York Foster Care Lawyers
www.lawrsm.com

Law Firm News Updates
Legal News Updates
Click The Law News
Daily Legal News
Legal News Voice
Recent Legal News
 
 
©Legal Marketing News. All rights reserved.

The content contained on the web site has been prepared by Legal Marketing News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Legal Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Also this site may contain legal advice, legal opinions, and statements of various legal information providers. The Content contained on the site has been prepared by Legal Marketing News as a service to its readers and is not intended to constitute legal or professional advice, which is always fact specific. Criminal Law Firm Website Design