Icahn sues Motorola for documents

Activist investor and Motorola shareholder Carl Icahn has filed a lawsuit against Motorola in a move to get the company to release documents about its handset business. Icahn is in the middle of a proxy fight with Motorola to get appointed four members to its board of directors. Icahn claims the desired documents would help him "ascertain what the board could have done" to assure shareholders that the company's comments weren't incorrect about the prospects for its mobile devices business. A day after Motorola publicly announced that it was mulling a decision to spin off its devices business, Icahn named four board nominees who would seek to sell the devices business quickly.

For more on Icahn:
- read this article from WSJ (sub. req.)

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