MELVILLE, N.Y. North Fork Bancorp said a Delaware court ruled in its favor in declaring that the class of directors nominated for reelection by Dime Bancorp were not reelected to new three-year terms.
The decision by the Court of Chancery of the State of Delaware means that about two-thirds of Dimes board of directors will stand for reelection at Dimes 2001 annual meeting of stockholders.
North Fork, which in September dropped a hostile takeover bid for Dime, will run an opposing slate of directors at that meeting. On Nov. 1 the two companies dropped lawsuits against each other that had stemmed from North Forks hostile bid for Dime.
In a separate press release, Dime said it was reviewing the Delaware courts decision, including whether to seek an appeal.