Chancery Court Upholds Sotheby's Poison Pill

, Delaware Business Court Insider

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The Delaware Court of Chancery has denied activist investor Daniel S. Loeb's lawsuit to overturn auction house Sotheby's poison pill plan and enjoin the company's 2014 annual meeting. In issuing the opinion, the court held that Loeb failed to prove the plan unfairly limited stockholder rights and discriminated against activist investors.

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