Law360 (March 19, 2020, 5:43 PM EDT) -- An HP investor filed a proposed class action Wednesday in Delaware Chancery Court, criticizing the board's "trust us" tactic when urging shareholders not to accept Xerox's tender offer in its $34 billion hostile takeover bid, asserting investors need more information to make an informed decision.
Stockholder James Gould Jr. contends in his suit that HP Inc. directors have breached their fiduciary duty by failing to provide a "fair summary" of the analysis that led the board to reject Xerox's tender offer.
"The board's paternalistic 'trust us' approach is currently depriving HP stockholders of their fundamental right to make an informed decision...
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March 20, 2020 at 04:43AM
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Investor Slams HP's 'Trust Us' Tactic Amid Xerox Takeover Bid - Law360
"tactic" - Google News
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