Chancery Court Issues Discretionary Remedy to Dole Shareholders in Fraud

The Delaware Court of Chancery issued a damages award of $148 million to Dole Food Company shareholders after CEO David Murdock and President and COO C. Michael Carter intentionally and fraudulently misrepresented company performance in an attempt to undervalue Dole stock.  In a blog post written for the Delaware Journal of Corporate Law, DJCL staff member Brandon Harper explains how Vice Chancellor Laster determined that shareholders were entitled to what he declared a “fairer price.”

Read more at http://www.djcl.org/blog.

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