010457 Judge Halts Tyson Suit Against IBPApril 22, 2001New York - A Delaware Chancery Court judge issued a temporary restraining order against Tyson Foods Inc., blocking the poultry giant from proceeding with its lawsuit against one-time merger partner IBP Inc. in Arkansas. Delaware Chancery Court Vice Chancellor Leo Strine issued the restraining order Friday after holding a conference call with both companies Thursday afternoon, according to court documents. The order comes just two days after Strine determined the confidentiality agreement signed between the two companies last year required that all legal disputes be heard in Delaware, where IBP is incorporated. Tyson sued IBP in Washington County, Arkansas, where it is based, on March 29, alleging the nation's largest beef processing company had provided fraudulent financial information to Tyson officials during their negotiations. The next day, IBP sued Tyson in Delaware for allegedly breaching the firms' acquisition agreement. The trial on Tyson's suit was scheduled to begin on May 14 in Arkansas Chancery Court, the same day arguments are scheduled to begin on the IBP case in Delaware.
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