A restraining order against Signal was extended.
Superior Court Judge Jack Levitt’s ruling indefinitely extends the temporary restraining order that has stalled $106 million in payments to 150 executives of Signal Cos. Levitt said he needed more time to rule on a request by dissident Signal shareholders for a preliminary injunction that would delay payments until after a court determines the validity of the payments. The temporary restraining order was issued on Sept. 18, the day that La Jolla-based Signal was merged into Morristown, N.J.-based Allied Corp. to form Allied-Signal.
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