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T. Rowe Price Settles Lawsuit over Dell Buyout

T. Rowe Price has agreed to a $25 million settlement with Dell over Dell’s recent buyout, the Wall Street Journal reports.  The settlement will allow T. Rowe Price to offset part of the $194 million it paid to its clients to reimburse them for a proxy voting error that resulted in an accidental vote in favor of the transaction.  The settlement will require that T. Rowe Price not appeal a Delaware decision denying appraisal rights for the firm’s clients.  According to the article, the settlement will allow Dell to avoid “the risk of an expensive and uncertain appeal.”