Investor Wants Medley Capital Merger Vote To Proceed

Law360 (March 21, 2019, 6:10 PM EDT) -- A Medley Capital Corp. investor filed a proposed class action Wednesday seeking to have the Delaware Chancery Court bar further delay of a stockholder vote on a proposed merger with Sierra Income Corp., even though the court ruled last week a vote can't be held until more information is disclosed.

Stockholder Stephen Altman's suit accuses MCC's directors of repeatedly adjourning stockholder votes and issuing misleading disclosures about the deal in an attempt to thwart opposition to the proposed transaction. MCC has delayed votes on the deal because it does not have enough stockholder support, the investor said.

"This action arises from...

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