On the fourth and final day of testimony in Ron Burkle’s Yucaipa Delaware court suit challenging Barnes & Noble’s poison pill, board director Michael del Giudice testified that any investor holding more than 20 percent of the book seller’s shares decide to vote against the poison pill at the annual shareholder meeting in November, that move would itself would trigger the pill. “If they have an agreement or understanding to do so, that’s the problem,” said Del Giudice. But when pressed to define what, exactly “the problem” was that could trigger the pill, Del Giudice was more vague: “I don’t […]
