Icahn Files Lawsuit Against Dell On IPO Plans

(RTTNews) - Carl Icahn affiliates, which own 9.3% of Dell Technologies Inc. (DVMT) tracking stock, said that they have filed a lawsuit against Dell, arguing that the company has "refused to provide much basic information" related to its plans to go public again.

Affiliates of Carl Icahn said that Dell refused to provide much basic information relating to the proposed DVMT merger and solicitation. Dell completely refused to provide any information relating to the period from July 3, 2018 through the present. This period is critical to DVMT stockholders because the company and its advisors have been soliciting votes, and DVMT stockholders have a right to know whether, and to what extent, the Board is aware of, and even planned, some of the apparently coercive tactics being employed by the company and its advisors.

The complaint demands that Dell permit Icahn to review and potentially share material information relating to the proposed DVMT Merger. DVMT stockholders deserve to know the full and objective truth! DVMT stockholders should not have to rely exclusively on a narrative provided by the company and its controlling stockholders.

Affiliates said the proposed DVMT merger is a conflicted transaction that benefits the controlling stockholders, at the expense of the DVMT stockholders.