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CSX Loses One-Third of Seats To Dissidents

Law360 (July 17, 2008, 12:00 AM EDT) -- Two dissident investors in CSX Corp. have won election of four of their five nominees to the railroad company's 12-member board of directors, placing increasing importance on an upcoming federal appeals court ruling.

Independent inspector IVS Associates Inc. preliminarily reported that four directors nominated by the dissident hedge funds – 3G Capital Partners and The Children's Investment Fund, also known as TCI Group – were elected at Jacksonville, Fla.-based CSX's June 25 annual shareholder meeting, CSX announced Wednesday.

The dissidents' fifth nominee was not voted in....
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