Icahn Plans More Legal Action Against Motorola
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Carl Icahn and his affiliates on Monday said it is filing a lawsuit in the Court of Chancery of the State of Delaware seeking a court order requiring Motorola to make certain materials demanded by Icahn from Motorola available for inspection.
The materials that Icahn is seeking include are any board and committee minutes and documents relating to the service and selection of Motorola's senior officers, the prospects or strategy of Motorola's Mobile Devices business and the realignment of its business regarding Mobile Devices, including the potential spinoff of the Mobile Devices business.
Icahn also seeks to include documents, if any, provided to Motorola's Board of Directors regarding matters disclosed in certain of Motorola's press releases and conference calls concerning the performance of Motorola and documents showing the use of Motorola's aircraft and other property by members of senior management, the board of directors and their families.
In addition, Carl Icahn and his affiliates released a letter to stockholders of Motorola, Inc., requesting stockholders to elect Frank Biondi, William Hambrecht, Lionel Kimerling and Keith Meister as directors of Motorola at the 2008 annual meeting of stockholders of Motorola.
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