http://www.marketwatch.com/story/jc-penney-board-mulls-action-against-ackman-wsj-2013-08-11?link=MW_home_latest_news
The board of J.C. Penney Co.
JCP
-5.78%
met Sunday over the telephone to discuss whether to take action against
director William Ackman for publicly disclosing private boardroom
deliberations, The Wall Street Journal reported, citing unidentified
people close to the company. Ackman, the hedge-fund manager and largest
J.C. Penney stockholder, publicly released a letter last week calling
for the board to take quicker action to replace Chief Executive Mike
Ullman. However, the report said that "it is far from clear" whether
Ackman violated his duties as a board member, leaving his fellow
directors with limited options to act against him.
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