Medley Capital, Medley Management meetings delayed again

|About: Medley Capital (MCC)|By:, SA News Editor

Medley Capital (MCC -0.3%), Sierra Income, and Medley Management (MDLY -1.9%) delay again their meetings for shareholders to vote on the companies mergers.

The postponement comes after a Delaware court found that MCC directors breached their fiduciary duties in entering into the proposed merger, according to a regulatory finding.

The court also denies plaintiffs' requests to stop the proposed merger and to force a "shopping process."

The companies expect to adjourn the meetings to March 29.

Previously: Medley Capital, Medley Management meetings to reconvene March 15 (March 8)

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