Burlington Northern Santa Fe (BNI)

The Shareholders Foundation Inc. announced that a lawsuit has been filed in Texas State Court on behalf of investors in Burlington Northern Santa Fe Corporation over alleged breaches of fiduciary duty in connection with an alleged unfair takeover by Berkshire Hathaway Inc.
The complaint alleges, among other things, that the defendants engaged in secret negotiations and the board of Burlington Northern agreed to coercive deal lock-up provisions by agreeing to a matching right, a no-solicitation provision and a termination fee of $264 million.

Nov 14 · 4:11:00 PM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto