Judge Denies Third Point's Bid To Delay Sotheby's Meeting

Law360, Los Angeles (May 2, 2014, 9:52 PM EDT) -- A Delaware chancery judge on Friday rejected Third Point LLC’s attempts to delay Sotheby’s annual shareholders meeting amid its founder Daniel Loeb’s proxy fight over three board seats, ruling that Third Point had not shown it had a reasonable chance of success on the merits.

Vice Chancellor Donald F. Parsons Jr. denied Third Point’s request for a preliminary injunction to delay the May 6 meeting. Third Point had asked for the vote to be delayed pending an expedited trial on whether Sotheby’s board violated its fiduciary...
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