CNET To Appeal Ruling In Board Nominee Dispute

Law360, New York (March 17, 2008, 12:00 AM EDT) -- CNET Networks Inc. is appealing a court ruling allowing its largest shareholder, JANA Partners LLC, to nominate several new members to the company’s board, even as the hedge fund cautioned CNET against the perils of such an appeal.

The online media company announced Monday that it was appealing Thursday's ruling by the Court of Chancery of Delaware, which rejected CNET’s assertion that JANA Partners’ attempt to nominate new board members was prohibited by the company’s bylaws.

CNET said its bylaws remained “valid and in the best...
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.