Icahn Suffers Setback In Dell Case, Stock Rallies

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Carl Icahn’s attempt to push back the shareholder vote on the future of Dell Inc. (NASDAQ:DELL) has been denied fast-track treatment in Delaware’s Court of Chancery. He is claiming that the decision to have shareholders vote on Michael Dell’s buyout offer before voting on his own plans for the company amount to coercion, but the judge saw no proof of wrongdoing, Peg Brickley of The Wall Street Journal reports. “I don’t find any color to the fiduciary duty claim or any threat of irreparable injury that justifies expediting those claims,” said Chancellor Leo Strine. Icahn pushing for votes to happen simultaneously…

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