The Delaware Chancery Court rejected a dissident shareholder’s request for a preliminary injunction blocking Barnes & Noble Education’s annual meeting. Sunil Suri at Bay Capital Finance has been trying to nominate four directors for election to the bookseller’s board, but he acquired stock too late to qualify. Vice Chancellor Kathaleen S. McCormick said, “Bay Capital blew the deadline. It then made up excuses for doing so. Nothing in the record suggests the company [BNED] was in any way at fault.” She called conflicts and flaws in the complaint “a little bit shocking.” According to Law360’s account of the hearing, the court […]
