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Lawsuit filed after Lee rejects takeover bid


Quad Cities Regional Business Journal: The hedge fund trying to take over Lee Enterprises has filed a lawsuit after the Davenport-based publisher rejected its takeover bid. In the suit, filed Wednesday in Delaware, an affiliate of Alden Global Capital argues that Lee was wrong to deny the nomination of three Alden nominees to the company’s board of directors. The lawsuit, filed by Strategic Investment Opportunities, argues the Lee board infringed on company rules when it denied the board nominee request.

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