Law Office of Henry B. LaTorraca Civil Trial Attorney

Judge refused to dismiss Dole privatization case

California readers may be interested in a recent development in a case involving Deutsche Bank AG, Dole Chief Executive Officer David Murdock and members of the board of directors of Dole Food Inc. On Feb 5, a Delaware Chancery Judge decided against dismissing a case challenging Dole's 2013 privatization. Murdock, the board members and Deutsche Bank had sought to avoid facing trial. The judge's decision is noteworthy, since Delaware courts have a reputation of deferring to boards of directors in corporate disputes.

The judge's ruling stated that legitimate questions had been raised by investors. According to the ruling, investors had raised doubts regarding board members' independence from Murdock after finding evidence that the fruit company CEO had taken punitive action against and threatened directors who did not adhere to his wishes in the past. Investors allege that Deutsche Bank helped Murdock structure the transaction in such a way that it was detrimental for shareholders.

When a business relationship changes or dissolves, the result may be litigation in some cases. An attorney with a background in corporate disputes may negotiate with the other parties to settle the matter out of court. If the case is not settled through negotiation, an attorney could file a motion to have the case dismissed. However, if the judge were to decide against dismissal, the case might proceed to trial.

If a business dispute does go to trial, an attorney may provide legal counsel and representation throughout the proceedings. If the judge or jury comes back with an unfavorable decision, the attorney may file a motion for appeal.

Source: Bloomberg Business, "Dole CEO Faces Trial Over Privatization: Business of Law", Ellen Rosen, Feb. 8, 2015

No Comments

Leave a comment
Comment Information

Creative Solutions for Complex Legal Issues

Map email us for a response

Contact the Law Office of Henry B. LaTorraca

Prospective clients are invited to contact attorney LaTorraca at 562-216-2942 for an initial lawyer consultation to discuss their legal matter.

*AV Preeminent is a certification mark of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the judiciary. Martindale-Hubbell ratings fall into two categories - legal ability and general ethical standards.

Contact Us

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Follow Henry B. LaTorraca Via Social Media

400 Oceangate Suite 700 Long Beach, CA 90802-4306 Phone: 562-216-2942 Fax: 562-216-2943 Map & Directions

facebook google plus LinkedIn directions