Dole Food CEO, former top exec ordered to pay $148M DOVER, Del.- A Delaware judge on Thursday ordered 92- year-old Dole Food CEO David Murdock and a former top lieutenant to pay $148 million in damages for misleading directors and shareholders in a deal that took the company private in 2013.. The judge on Thursday said the billionaire businessman, along with former Dole president and chief operating officer C....
Source: The Associated Press
| By: By RANDALL CHASE, AP Business Writer
UPDATE 1-Dole CEO liable for $148.2 mln over 2013 buyout-ruling Aug 27- A Delaware judge on Thursday said David Murdock, the billionaire chief executive of Dole Food Co, is liable to shareholders for $148.2 million of damages for having shortchanged them when he took the fruit and vegetable producer private in 2013.. In his 106- page decision, Laster also held Dole's recently retired chief operating officer, C. Michael Carter,...
Dole CEO liable for $148.2 mln over 2013 buyout-ruling Aug 27- A Delaware judge on Thursday said David Murdock, the chief executive of Dole Food Co, is liable for $148.2 million of damages for having shortchanged shareholders when he took the fruit producer private in 2013.. Delaware Chancery Judge Travis Laster said Murdock, 92, took several actions to reduce Dole's market value, and thus the price he would pay, and...
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America's oldest CEO puts his Dole buyout to a high-stakes test Aug 14- Any day now, David Murdock, the 92- year-old owner of Dole Food Co, will find out whether his decision to go to trial to defend the terms of his 2013 buyout of the company was heroic or foolish. It was certainly unusual, and could lead to one of the biggest judgments ever in Delaware's Court of Chancery, a leading venue for corporate disputes.
| By: Tom Hals