Motient Dissident Takes a Legal Licking
In the latest wheeze from the Motient saga, a Delaware judge has dismissed the complaint against the company and related parties filed last August by dissident shareholder and Dallas-based hedge fund manager James Dondero (read the decision here). Seems the judge didn't think Dondero had the facts to support his claims that the company's directors were conflicted and that they overpaid advisors. No word yet on whether Dondero will continue to press his case.
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