The history of playground fights and corporate takeovers shows that winners don't have to play nice. Add another chapter to that book with Wednesday's announcement that two activist hedge funds succeeded in getting four of their five nominees elected to CSX Corp.'s 12-person board. Last month the funds had been verbally bludgeoned by a federal judge for "crossing the line" dividing legal from illegal activity and then using "formalistic arguments" to justify their bad acts.
Hedge Funds Claim Victory in CSX Battle
The American Lawyer
July 17, 2008