And this time he is suing them to access documents that detail the strategy for turning around the mobile-phone arm of Motorola.

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Icahn filed a lawsuit today in Delaware Chancery Court in Wilmington to get the information from Motorola. The company denied an earlier request for the documents, said Icahn, who has nominated four directors and lobbied for a spinoff of the handset unit.

According to The Financial Times, the documents he is seeking include board and committee minutes and documents related to the service and selection of Motorola’s senior officers, and the prospects or strategy of Motorola’s mobile devices business.

Icahn, 72, said today in an interview, “These guys are the poster boy for what’s wrong with corporate America. They’ve lost $37 billion in market value in the last year and a half, and they still refuse to put a representative of shareholders on the board.”

Motorola denied Icahn’s request because he sought an “unusually expansive range of documents” and didn’t give a credible reason for suspecting the company is being mismanaged, according to a March 20 letter from lawyer Donald J. Wolfe Jr. of Potter Anderson & Corroon. The letter was filed as an exhibit in Icahn’s lawsuit today.

A spokeswoman for Motorola said Icahn turned down its offer because he didn’t want to agree to “customary confidentiality agreement,” regarding the information.

Its high time that Icahn spends some time and energy on his other investments than go behind Motorola.


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