Ron Burkle’s Yucaipa responded to the Delaware verdict by saying it “believes no legitimate corporate purpose is served by treating the Riggios more favorably than other stockholders.” As expected, they filed their plans with the SEC to launch a campaign for shareholder votes to amend the company’s poison pill by raising the threshhold of stock accumulate from 20 percent to 30 percent before it is triggered, and vote Burkle, Stephen Bollenbach and Wheego car ceo Michael McQuary onto the board of directors. In the solicitation, Yucaipa writes: “The company has reached a crucial juncture. The Company recently announced that it […]
