Irwin L. Jacobs moved to acquire more stock.
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The Minneapolis investor has asked that Hawaii’s anti-takeover laws not be used against him if he purchased more stock in Castle & Cooke. Meanwhile, the firm was hit with another shareholder lawsuit, the third filed since it announced plans to merge with Flexi-Van of New York. On Friday, Jacobs filed a motion in U.S. District Court in Honolulu contending that state laws are an unconstitutional restraint of free trade. In the motion, Jacobs indicated that he wanted to get federal court approval before deciding what to do about his 12% stake in the company.
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