Delaware court upholds Barnes & Noble ruling
Business Law
The Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes & Noble Inc. after he doubled his stake in the company.
After hearing arguments Wednesday, the court on Thursday affirmed a judge's ruling last year upholding the poison pill plan, which limited a shareholder's stake in the company to 20 percent.
Burkle argued that New York-based Barnes & Noble had created an unfair playing field favoring the family of chairman and founder Leonard Riggio, which owns more than 30 percent of its common stock.
Burkle waged an unsuccessful proxy fight after the ruling but said he would continue to press for changes at the nation's largest brick-and-mortar book seller.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.