Suits Buck Dole CEO's $1.5B Offer, Citing Board Conflicts

Law360, New York (June 19, 2013, 5:41 PM EDT) -- Dole Food Co. Inc. shareholders sued the fruit and vegetable purveyor in a pair of California state court lawsuits Friday to stop CEO David Murdock's $1.5 billion go-private deal, saying the price is "egregiously low" and its board is conflicted.

Murdock announced the deal June 11, but said he'd drop the offer unless it's approved by a special committee of Dole’s independent directors and a majority of the shareholders who hold the 60 percent of the company he doesn't already own, in an apparent bid to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.