Judge Rejects Loeb’s Lawsuit Against Sotheby’s

May 5th, 2014

Zhang Xiaogang sells at Sotheby's, via Sotheby'sA Delaware judge has rejected Daniel Loeb’s lawsuit seeking to overturn Sotheby’s shareholder rights plan, which had prevented activist investors from owning more than 10% of the company.  “I find that the plaintiffs have not demonstrated that they have a reasonable probability of success on the merits of their claims,” Judge Donald Parsons wrote in his decision. “Therefore, I deny the plaintiff’s motion for a preliminary injunction.”Read more at Reuters