Del. Court Won't Fast-Track Suit Over $1.6B Dole Deal

Law360, Wilmington (August 29, 2013, 9:38 PM EDT) -- A Delaware Chancery judge refused Thursday to fast-track a lawsuit brought by Dole Food Co. Inc. shareholders challenging CEO David Murdock's $1.6 billion go-private proposal, ruling such was unnecessary because the plaintiffs could still reap a monetary award after the deal closes if their claims are successful.

Vice Chancellor J. Travis Laster ruled that the investors did not prove they would be irreparably harmed if the deal went through before a decision was made on their suit, precisely because they made colorable claims that the proposal...
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