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Dan Loeb Swings a Legal Hammer at Sothebys

4/17/14 12:00 PM EDT
The activist investor and the famed auction house are headed for a courtroom showdown. Loeb wants three board seats and the ability to fire Sothebys CEO William Ruprecht. The company responded with a $300 million dividend for shareholders and a poison pill aimed squarely at Loeb. The hedge fund manager contends that the pill unfairly singles him out and wants a judge to overturn it. There's a hearing in the case just days before Sothebys' annual meeting, so the pressure is on.
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