Andrews Corporate Officers and Directors Liability Litigation Reporter
August 13, 2001
Breach of Duty
Copyright (c) 2001 Andrews Publications
PAX SHAREHOLDERS HAVE NO BASIS TO SUE OVER FOX BUYOUT REJECTION
In re Paxson Communications Corp. Shareholders Litig.
The Delaware Chancery Court has dismissed a shareholder action against the directors of Paxson Communications Corp. over their August 1999 refusal of a $20-per-share buyout offer from the Fox Network and subsequent acceptance of certain asset...