Icahn sues for access to Motorola documents

Carl Icahn be frozen dogging Motorola. On Monday, the billionaire hoarder said his notch gristly, the Icahn Group, file a lawsuit considered to thrust Motorola to furnish documents resembling its communicative devices conglomerate and exploit of corporate aircraft by system of commander principal, subdivision member, and their family discus, Reuters and other chitchat agencies report.

Saying the news will back him see what Motorola's board should hold done to help the company crystal-clear its ailing handset business, Icahn added that he intend to share it beside shareholders, who in recent times now have see the parting of previous CEO Ed Zander, the rendezvous of Greg Brown to the headdress depression, and several other excutive-level redeploy. The become also is aimed at encouraging investor to elect Icahn's slate of hopeful to the Motorola board.

"Over the recent previous 12 months, the report and divination of Motorola's headship and the board in the region of mobile devices business have as powerfully commonly proven to be misguided," Icahn exchange letters contained by a write feathers to investors. "We want to ascertain what the board could have done in the pe of its fiduciary taxes to give your synonym Motorola stockholders that Motorola's statements and predictions be not erroneous." "We request these materials," he added, "for the purpose of enable us to wish all for whether and to what dimension the board of ruler of Motorola substandard in their duty in plonk of directors in keep watch on top of management and location principle and direction of Motorola." Motorola have attempt at smallest viable a partial escape of Icahn's advance. The Wall Street Journal, in a romance published Tuesday, influence that Motorola offered him two board seats--a gesticulation Icahn rejected.

Given Icahn's agreement, his rationale for making the company's handset faction self-governing, and his swiftly on the up clout with shareholders, the WSJ story point out, it's with juncture expected he'll realize his ambition to win four spaces on Motorola's board.

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