T. Rowe Price Group Inc. said on Monday it will pay up to $194 million to compensate certain clients following a proxy voting error the company made tied to the 2013 buyout of Dell Inc. The Baltimore money manager, which owned roughly 31 million shares, publicly opposed the deal at $13.75 per share. But due to an administrative error, its clients’ shares were ultimately submitted as “for” the merger, rather than “against.” Delaware Court of Chancery ruled in May that the error “rendered T. Rowe…
from http://www.bizjournals.com/baltimore/news/2016/06/06/t-rowe-price-to-pay-clients-194m-following-misstep.html?ana=RSS%26s=article_search
via http://baltimorecheckbook.tumblr.com/post/145522301067
No comments:
Post a Comment