Empery Digital Inc.‘s sitting directors lost their bid to avoid a proxy fight next week against the activist hedge fund gunning for their seats.
Delaware’s top court ruled Thursday for the fund, ATG Capital Opportunities LP, upholding an August decision by a Delaware Chancery Court judge.
The judge said at the time that although the board’s suspicions about ATG’s collusion with another activist may have been well-founded, the fund had made all the disclosures expressly required by Empery’s bylaws.
The litigation is part of a wave of court fights over advance-notice bylaws — which demand disclosures from investors nominating …