2nd Circ. Nixes CSX's Bid To Block Proxy Fight

Law360, New York (June 23, 2008, 12:00 AM EDT) -- A federal appeals court has denied CSX Corp.’s bid to set aside a portion of the voting shares belonging to two hedge funds in a fierce proxy battle leading up to the railroad company’s annual meeting Wednesday.

On Friday, the U.S. Court of Appeals for the Second Circuit denied CSX’s request for an injunction in the case against The Children’s Investment Fund and 3G Capital Partners, two hedge funds leading the effort to elect five members to CSX’s 12-member board.

CSX sought to place 6.4% of...
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