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Browse: Home / 2015 / August / 28 / Dole C.E.O. and Aide Found Liable for $148 Million in Buyout – The New York Times

Dole C.E.O. and Aide Found Liable for $148 Million in Buyout – The New York Times

By Securities Docket on August 28, 2015, 8:49 am

The judge found on Thursday that Mr. Murdock, the company’s chief executive, and a top lieutenant fraudulently drove down the company’s stock price so he could buy the business at a cheaper price in its 2013 leveraged buyout.

In his opinion, Vice Chancellor J. Travis Laster of the Court of Chancery in Delaware ordered Mr. Murdock and the company’s former chief operating officer, C. Michael Carter, to reimburse other shareholders $148 million. That is one of the largest amounts awarded in a lawsuit tied to a merger.

Dole C.E.O. and Aide Found Liable for $148 Million in Buyout – The New York Times

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