Icahn Sues Over Dell Voting
Activist investor Carl Icahn has filed a lawsuit against Dell Inc. and its board to prevent the computer maker from further delaying a vote scheduled Friday or changing the voting rules for a proposed buyout by Dell’s founder.
In the complaint filed in Delaware Court of Chancery, Mr. Icahn said that if Dell is permitted to set a new date for a meeting to vote on whether the company should be taken private, the vote should be held at the same time as the annual meeting.
The suit seeks to prevent Dell from setting a new record date for shareholders eligible to vote. The record date is currently June 3, meaning shareholders as of that date can vote. The meeting is scheduled Friday morning, though it is unclear if shareholders will get to vote on the $24.4 billion buyout or if the vote will be postponed again.