Icahn Sues To Block Dell's Record Date Reset

Law360, New York (August 1, 2013, 2:26 PM EDT) -- Billionaire Carl Icahn sued Thursday to block Dell Inc.'s board from delaying a vote on the company's $24.4 billion private equity buyout and setting a new record date meant to boost the deal's chances of passing.

Icahn accused buyers Michael Dell and Silver Lake Partners of purposely driving down Dell's share price in recent months in an effort to scare out existing shareholders, knowing they would be replaced by arbitrage funds that now stand to profit from a successful buyout.

Michael Dell “engaged in a concerted...
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