Burkle Appeals Barnes & Noble Poison Pill Ruling

By Martin Bricketto

Law360, New York (September 03, 2010, 4:39 PM ET) -- An investment firm controlled by billionaire Ron Burkle is fighting the dismissal of a suit against Barnes & Noble Inc., its Chairman Leonard Riggio and other officials over a poison pill provision that directors adopted after Burkle’s company rapidly began increasing its stake in the bookseller last year.

Yucaipa Cos. on Thursday announced that it had filed a notice of appeal over Vice Chancellor Leo Strine’s Aug. 12 ruling in Delaware Chancery Court. Strine found that the adoption of the plan was a good faith, reasonable...
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