Strine Denies Icahn Challenge, Paving Way For Dell Buyout

Law360, New York (August 16, 2013, 1:19 PM EDT) -- A Delaware judge on Friday rejected Carl Icahn's efforts to force Dell Inc.'s board to reschedule its annual meeting, dealing what is likely a fatal blow to his crusade against the company's $25 billion buyout.

Chancellor Leo E. Strine Jr. rejected Icahn’s claims that Dell’s board had run a tainted process, emphatically dismissing Icahn’s fiduciary duty claims. And he said that, while Dell’s decision to hold its annual director elections in mid-October technically violates state law, it’s unlikely that even a court-ordered meeting would happen any...
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