A temporary restraining order has been issued blocking asset-light transportation provider Forward Air’s recent merger agreement. A complaint filed by three shareholders, who are also former employees, said shareholders weren’t allowed to vote on the transaction as required by Tennessee law.
The 3rd District Chancery Court in Greeneville, Tennessee, where Forward (NASDAQ: FWRD) is headquartered, set an Oct. 11 hearing on the matter. All of Forward’s board members were listed as defendants.
On...
https://www.freightwaves.com/news/forward-airs-bid-for-omni-temporarily-blocked-by-court