In the Margins

Dell flub to cost T. Rowe

June 3, 2016

By The Wall Street Journal

T. Rowe Price Group Inc. is expected to announce a plan as early as next week to reimburse clients who lost out when it accidentally voted in favor of the 2013 buyout of Dell Inc. by its founder Michael Dell. T. Rowe had vocally opposed the deal, saying it undervalued the 30 million Dell shares held by its mutual funds. But a series of administrative errors caused the firm to vote in favor of the deal, disqualifying it from suing for more money. Other holders successfully sued and won compensation from a judge, who ruled earlier this week that Dell and his partners underpaid by $6 billion. Read the original story from The Wall Street Journal.

 

 

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