Delaware Court Rules in Favor of AIM ImmunoTech and Upholds Board’s Determination that Activist Group’s Nominations Are Invalid
This ruling follows a trial held at the end of October in connection with the Activist Group’s lawsuit against the Company.
- This ruling follows a trial held at the end of October in connection with the Activist Group’s lawsuit against the Company.
- As a reminder, the AIM Board had unanimously determined that the Activist Group’s nomination notice was invalid because it omitted key information and included misleading information, ignoring what the Company’s Bylaws require to be disclosed.
- “… the Board acted reasonably and equitably in rejecting the [nomination notice submitted by Ted D. Kellner].
- We are pleased that the Court has validated the Board’s determination that the Activist Group omitted and misrepresented critical information related to its members’ backgrounds and intentions for AIM.