Wednesday, May 14, 2008
CNET and Jana: The Battle Drags On
In another micro-move in the fight between activist shareholders and CNET, the Delaware Supreme Court given the thumbs up to a lower court ruling that the Jana Partners group can nominate a slate of directors to the board of San Francisco-based tech news and reviews site.
CNET has been fighting these efforts by Jana–along with Sandell Asset Management, Alex Interactive Media, Spark Capital and Velocity Interactive Group–to nominate two director and expand the board and add more of their own nominees–claiming it was contrary to its bylaw.
Apparently not!
