June 1, 2017 / 9:35 PM / 2 months ago

Cypress Semiconductor forced to delay annual meeting by Delaware court

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WASHINGTON, June 1 (Reuters) - A Delaware court ruled on Thursday that Cypress Semiconductor must delay its annual shareholder meeting, ruling in favor of ex-CEO T.J. Rodgers who has waged a board battle against the company he founded.

The Delaware Court of Chancery enjoined the $4.7 billion company's annual meeting until at least June 19, a Rodgers spokesman told Reuters. Rodgers filed a lawsuit in April seeking Cypress' board to make extra and corrected disclosures to its proxy materials in time for the June 8 annual meeting.

Cypress Semiconductor was not immediately available for comment. (Reporting by Michael Flaherty; Editing by James Dalgleish)

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