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Fraud Means a "Fairer" Price: In re Dole Finds CEO and...

2015-09-17 21:51:39| Agriculture - Topix.net

On August 27, 2015 the Delaware Court of Chancery issued a post-trial decision, In re Dole Food Company, Inc. Stockholder Litigation , that held two of Dole's directors, David Murdock and Michael Carter, personally liable for over $148 million in damages, plus interest. Murdock, Dole's CEO and chairman, and Carter Dole's COO, president and general counsel were found liable for intentionally driving down Dole's stock price prior to, and for interfering with the special committee's efforts to obtain a fair price for Dole's minority stockholders in, Murdock's take-private transaction.

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