Posted March 09, 2010 3:47PM PST

A recently dismissed lawsuit painfully illustrates the costs in time and money when disputes move from the boardroom to the courtroom.

A U.S. District Court judge in Seattle dismissed a case filed by Pennsylvania Avenue Funds against WatchGuard Technologies chief executive and chairman Edward Borey, whose company was acquired by Francisco Partners and Vector Capital Corp. in 2006.

The judge wrote that the case mounted by Pennsylvania was questionable in many respects but found that the problems didn't stem from the fund, but from two of its attorneys at class-action specialist Finkelstein & Krinsk.

Pennsylvania sued several WatchGuard board members for alleged breaches of fiduciary duty in the course of auctioning off the company. Allegations - all of which were dismissed - included claims of manipulative use of a "poison pill" and dishonest actions on the part of Borey, other board members, and parties interested in buying the company.

The final ... Full Story


Posted March 11, 2010 11:00AM PST

A federal court in Houston rule that Apache Corp. Full Story


Posted March 11, 2010 10:41AM PST

Funds affiliated with SRB Management have taken a stake in Response GeneticsFull Story


Posted March 11, 2010 10:40AM PST

A "golden decade" for activist investing in small cap companies may not be repeated, according to an analysis from Seeking AlphaFull Story


Posted March 10, 2010 10:31AM PST

The Delaware Court of Chancery took a close look at triggering thresholds in dismissing an attack on Selectica Inc. Full Story


Posted March 09, 2010 3:00PM PST

Japanese brewer Sapporo Holdings announced its own proxy measures in response to Steel Partners Japan Strategic Fund's efforts to put six members on the company's board, according to a report from the Daily Yomiuri Online. Full Story


Posted March 09, 2010 3:00PM PST

Western Investment has acquired a 7.4% stake in Dynex Capital, according to a regulatory filing. Full Story


Posted March 09, 2010 2:12PM PST

In a letter to General Growth Properties, Pershing Square Capital Management and Fairholme Capital Management describe a proposal for a $3.9 Full Story


Posted March 09, 2010 2:11PM PST

The Committee to Enhance Denny's, led by Oak Street Capital Management and Dash Acquisitions, said it plans to nominate three new members to the board of Denny's Corp. Full Story


Posted March 09, 2010 12:00PM PST

A letter from Osmium Partners to the board of Spark Networks says it is disappointed by an "outrageous" offer from Great Hill Partners to purchase the balance of Spark shares that Great Hill does not already control. Full Story


Posted March 09, 2010 12:00PM PST

Bedford Drive Capital was formed to explore alternatives to the sale of Crystal Capital to Brookfield Asset Management, according to Bedford managing member Steven Lebowitz. Full Story


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