Long Island Lighting Company v. Barbash

779 F.2d 793 (2d Cir. 1985)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

The management of P was involved in a proxy fight with a group of shareholders (Ds) who were trying to take over the company. Ds placed ads in newspapers that were critical of management. The managers of the company claimed that this ad fell under the proxy solicitation rules. The managers also claimed that the newspaper ads were illegal because they were false and misleading, thus violating proxy rules. The district court held that the ads were not proxy solicitations.