Dole CEO, Execs Reach Deal In Merger Fraud Class Row

Law360, Los Angeles (December 7, 2015, 6:33 PM EST) -- Dole Food Co. Inc. CEO David Murdock and several other executives reached a deal with shareholders Monday valued by the plaintiffs’ attorney at more than $170 million to end litigation over a purported fraud aimed at driving down the company’s price before a 2013 take-private deal.

Murdock will issue a payment to shareholders who held stock in the company during an alleged scheme tied to a go-private deal in which the CEO, who already owned 40 percent of Dole, sought to regain exclusive control of the company at a lower price by selling off businesses and land, according to a stipulation...

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