Legal analysis from Dean's Law Dictionary will be displayed here.

This section contains the nature of the case and procedural background.

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.

The legal issues presented in this case will be displayed here.

The court's holding and decision will be displayed here.