Hedge Fund Sues For Proxy Fight Rematch With Digirad

Law360, Chicago (May 17, 2013, 9:14 PM EDT) -- Hedge fund Red Oak Partners LLC sued Wednesday seeking to force a rematch in its proxy fight with Digirad Corp., accusing the medical imaging company of numerous underhanded maneuvers that allegedly swayed a board election in its favor.

The Poway, Calif.-based company’s five director candidates prevailed in a close vote at its May 3 shareholders’ meeting, but Red Oak’s slate was disadvantaged by improper disclosures, misrepresentations and outright cheating by Digirad’s management, according to the complaint filed in Delaware Chancery Court.

“The validity and integrity of...
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