Emmis Delays Shareholder Meeting While Court Mulls Order Blocking Vote
August 3, 2012 at 4:24 AM (PT)
EMMIS COMMUNICATIONS CORP. is delaying its shareholder meeting scheduled for AUGUST 14th pending a judge's ruling on a motion by preferred shareholders to block the meeting.
BLOOMBERG BUSINESSWEEK reports that the company informed the court after a two-day hearing this week that it will delay the vote on a plan to strip preferred shares of voting rights and dividends, saying that the board will convene on AUGUST 14th and immediately adjourn rather than hold the vote and waiting until after LABOR DAY to hold the meeting, giving the judge time to rule on the motion
CORRE OPPORTUNITIES FUND LP is leading dissident shareholders in asking U.S. District Judge SARAH EVANS BARKER for the order.