Aug
27
Dole C.E.O. and Aide Found Liable for $148 Million in Buyout
By
David H. Murdock, the chairman and chief executive of Dole Foods, in 2010.CreditFred Prouser/Reuters
Taking the Dole Company private in 2013 was nothing new to David H. Murdock, the nonagenarian billionaire who first bought out the fruit seller in 2003.
But the second time, according to a Delaware judge, Mr. Murdock went too far.
The judge found on Thursday that Mr. Murdock, the company’s chief executive, and a top lieutenant fraudulently drove down the company’s stock price so he could buy the business at a cheaper price in its 2013 leveraged buyout…
Dole C.E.O. and Aide Found Liable for $148 Million in Buyout
