Dell Record Date Reset May Smell Fishy, But It's Legal

Law360, New York (July 31, 2013, 8:07 PM EDT) -- Dell Inc.'s board hopes to put the fate of its $24 billion buyout in the hands of a new set of shareholders, and while the move might inflame some critics of the deal, Delaware judges — including the one overseeing Dell's case — have said it's legal.

Decisions like MONY Group Inc. in 2004 and Inter-Tel Inc. in 2007 have upheld boards' right to postpone shareholder meetings and reset record dates in order to avoid the failure of a deal they think is stockholders' best shot...
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