JACKSONVILLE, Fla. — CSX Corp. announced that it has filed an investor presentation with the Securities and Exchange Commission in connection with the company’s 2008 annual meeting of shareholders, which is scheduled for Wednesday, June 25.
“CSX’s Board of Directors has driven extraordinary shareholder returns, financial and operational performance, and excellence in corporate governance and offers a compelling future outlook,” said Michael J. Ward, CSX chairman, president and chief executive officer. “We look forward to meeting with CSX investors to discuss our track-record of success and concrete plans to continue to create value for all shareholders. We believe that the block of TCI group nominees, if elected, may seek to implement an agenda that would damage CSX’s future success and returns to shareholders.”
The CSX Board of Directors recommends that shareholders re-elect its experienced and highly qualified directors and support the Board’s efforts to create additional value by promptly voting the WHITE proxy card by telephone, Internet or mail. CSX also strongly urges shareholders to disregard any blue proxy card sent by The Children’s Investment Fund (TCI) or other members of TCI’s group, including 3G Capital Partners.
In March, CSX Corp. filed a federal lawsuit against TCI and 3G Capital Partners (3G), alleging violations of federal securities laws. TCI and 3G are hedge funds that formed a group to nominate a slate of directors to stand for election at the 2008 CSX annual meeting.
CSX filed the lawsuit in the United States District Court for the Southern District of New York. CSX alleges TCI and 3G violated federal securities laws, including violations of Section 13(d) of the Securities Exchange Act of 1934.
— PRNewswire-FirstCall with Railfanning.org News Wire staff