OLDSMAR -- A South Florida investor who waged a proxy fight for control of Cryo-Cell International Inc. has asked a judge to put his nominees for directors on the Cryo-Cell board.
David Portnoy said in a lawsuit filed in the Delaware Court of Chancery that Mercedes Walton, chairman and CEO of Cryo-Cell, and four board members engaged in an illegal vote-buying scheme designed to ensure the defeat of Portnoy's dissident slate of nominees during the company's annual meeting July 16.
Walton did not return a call for comment. Portnoy declined to comment on the suit.
A three-day trial was held Nov. 14-16 in the New Castle County division of the chancery court, which is considered the nation's preeminent forum for the determination of business disputes. The judge in the case, Vice Chancellor Leo Strine Jr., reserved a decision, pending the filing of post-trial briefs.
In computer networks, a proxy server is a server (a computer system or an application program) which services the requests of its clients by forwarding requests to other servers. A client connects to the proxy server, requesting some service, such as a file, connection, web page, or other resource, available from a different server. The proxy server provides the resource by connecting to the specified server and requesting the service on behalf of the client. A proxy server may optionally alter the client's request or the server's response, and sometimes it may serve the request without contacting the specified server. In this case, it would 'cache' the first request to the remote server, so it could save the information for later, and make everything as fast as possible.
A proxy server that passes all requests and replies unmodified is usually called a gateway or sometimes tunneling proxy.
A proxy server can be placed in the user's local computer or at specific key points between the user and the destination servers or the Internet.
09 December 2007
Proxy fight from the boardroom to the courthouse
at 7:29 PM
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