CSX Ends Suit Against TCI Over Proxy Fight

Law360, New York (August 17, 2011, 8:41 PM EDT) -- CSX Corp. on Wednesday voluntarily dismissed its suit in New York alleging The Children's Investment Fund Management LLP made misleading disclosures concerning its 11.5 percent swap position in CSX shares in order to win a proxy fight.

The suit had alleged the disclosures were misleading because they failed to reveal that the swap counterparties intended to vote CSX shares according to TCI's wishes. The settlement follows a Second Circuit ruling in July that the situation did not call for a denial of a vote in the...
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