Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  AutoNation, Inc.    AN

Delayed Quote. Delayed  - 07/22 10:02:00 pm
52.08 USD   +0.87%
07/07 AUTONATION : to Acquire BMW, Land Rover and Jaguar stores in Westche..
06/30 AUTONATION : Announces Second Quarter 2016 Earnings Conference Call ..
06/17 AUTONATION : to Acquire Centennial Chrysler Jeep Store in Denver
News SummaryMost relevantAll newsSector news 

AutoNation, Inc. : Nine companies sued over "exclusive forum" bylaws

share with twitter share with LinkedIn share with facebook
share via e-mail
02/08/2012 | 03:33am CEST

Chevron Corp (>> Chevron Corporation) and eight other corporations were sued by shareholders on Tuesday for adopting a bylaw that requires common types of shareholder lawsuits be brought exclusively in Delaware's Chancery Court.

"Exclusive forum" bylaws are being adopted by more and more corporations as a way to control a surge in shareholder litigation, though the move has been resisted by shareholders.

The interest in the bylaw comes as shareholders are increasingly bringing simultaneous lawsuits making nearly identical claims in two or more courts, often challenging merger deals.

Tuesday's lawsuits said the nine companies adopted the bylaw to reduce the risk that directors would be found liable.

"(The bylaw) was initiated, timed, structured and approved to benefit the directors at the expense of the stockholders," said the lawsuits.

Shareholders have resisted being forced to bring claims for breach of fiduciary duties and other matters of Delaware corporate law in the state's Chancery Court, which is often perceived as being overly protective of management at the expense of shareholders.

Some companies have adopted the "exclusive forum" through shareholder votes to amend charters, while others such as Facebook Inc have adopted them ahead of an initial public offering. The nine companies that were sued by shareholders adopted the bylaw by a vote of the board of directors.

In addition to Chevron, the companies are Priceline.com Inc (>> Priceline.com Inc), Franklin Resources Inc (>> Franklin Resources, Inc.), SPX Corp (>> SPX Corporation), Autonation Inc (>> AutoNation, Inc.), Superior Energy Services Inc (>> Superior Energy Services, Inc.), Danaher Corp (>> Danaher Corporation), Navistar International Corp (>> Navistar International Corporation) and Curtis Wright Corp (>> Curtiss-Wright Corp.).

The lawsuits were all brought by the Kessler Topaz Meltzer & Check LLP and Prickett, Jones & Elliott PA law firms.

(Reporting By Tom Hals; Editing by Bernard Orr)

By Tom Hals

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on AUTONATION, INC.
07/07 AUTONATION : to Acquire BMW, Land Rover and Jaguar stores in Westchester County,..
06/30 AUTONATION : Announces Second Quarter 2016 Earnings Conference Call and Audio We..
06/17 AUTONATION : to Acquire Centennial Chrysler Jeep Store in Denver
06/14DJToys 'R' Us Gains Approval to Extend Debt Maturity
06/09 AUTONATION : to Acquire Chrysler Jeep Store in Denver, Colorado
05/12 AUTONATION, INC. : Submission of Matters to a Vote of Security Holders (form 8-K..
04/29DJTRUECAR : AutoNation to Give TrueCar Services Another Chance
04/28DJU.S. Growth Starts Year in Familiar Rut
04/22DJAUTONATION : Profit Slumps on Incentives, Hail Costs -- 2nd Update
04/22DJU.S. HOT STOCKS : Hot Stocks to Watch
More news
Sector news : Auto Vehicles, Parts & Service Retailers - NEC
07/05DJKKR to Buy Software Maker Epicor From Apax Partners
07/05DJUsed-Car Startup Beepi Expands Its Reach
06/21DJALLY FINANCIAL : CarMax Profit Falls Short as Expenses Rise
06/08DJVroom Inc. Names Ex-Priceline CEO Hennessy as New Chief
06/02DJGENERAL MOTORS : UCI International Files for Bankruptcy Protection
More sector news : Auto Vehicles, Parts & Service Retailers - NEC
News from SeekingAlpha
07/07 VALUATION DASHBOARD : Consumer Discretionary - Update
07/07 AutoNation to acquire new luxury auto stores in Westchester County
06/28 Income Yielding Equity Sector Valuations Near Historical Highs
06/07 Auto retailers perk up after reading on used car prices comes in strong
06/06 VALUATION DASHBOARD : Consumer Discretionary - Update
Financials ($)
Sales 2016 22 022 M
EBIT 2016 895 M
Net income 2016 438 M
Debt 2016 3 040 M
Yield 2016 -
P/E ratio 2016 12,23
P/E ratio 2017 11,04
EV / Sales 2016 0,38x
EV / Sales 2017 0,38x
Capitalization 5 370 M
More Financials
Duration : Period :
AutoNation, Inc. Technical Analysis Chart | AN | US05329W1027 | 4-Traders
Full-screen chart
Technical analysis trends AUTONATION, INC.
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 13
Average target price 56,3 $
Spread / Average Target 8,0%
Consensus details
EPS Revisions
More Estimates Revisions
Michael J. Jackson Chairman, President & Chief Executive Officer
William R. Berman Chief Operating Officer & Executive Vice President
Cheryl Scully-Miller Chief Financial Officer & Executive Vice President
Allan Stejskal Senior Vice President-Information Technology
Rick L. Burdick Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AUTONATION, INC.-12.71%5 370
AUTOZONE, INC.7.09%23 226
INCHCAPE PLC-11.02%3 922
More Results