Judge Rules in Favor of Chevron: The oil company announced that a Superior Court judge in San Francisco has decided in favor of the company and upheld actions by its board in response to Pennzoil Co.'s December, 1989, purchase of nearly 10% of the company's stock. In a press release, Chevron said Judge Stuart Pollak dismissed the lawsuit brought by two shareholders who alleged that the company had acted wrongfully. The company said Pollak is sustaining its board's judgment that the stock purchases were a threat to Chevron and to the interests of its stockholders.
From Times Staff and Wire Reports
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