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Dole CEO Faces Trial Over Privatization: Business of Law

While the Delaware courts are known for deferring to the decisions made by boards of directors, deference apparently has its limits.

Delaware Chancery Judge Travis Laster last week refused to dismiss a case challenging the 2013 privatization of Dole Food Inc. by Chief Executive Officer David Murdock. Murdock, members of the board of directors and Deutsche Bank AG, which helped structure the deal, sought to have the case thrown out rather than face a trial now set for Feb. 23.