FW: Court extends temporary order blocking Forward Air-Omni deal

© Andrey Popov

FREIGHTWAVES reports:

A Tennessee court extended a temporary restraining order blocking Forward Air’s planned merger with freight forwarder Omni Logistics on Wednesday. The court will decide in the next 15 days if injunctive relief is warranted, which could set the stage for a hearing to determine if shareholders have the right to vote on the transaction.

The 3rd District Chancery Court in Greeneville, Tennessee, where Forward is headquartered, first issued the temporary restraining order at the end of September.

Forward’s bid for Omni is being challenged by shareholders, who said they were denied a vote on the deal as required under Tennessee law. The plaintiffs in the case are former employees at Forward and include its former chief financial officer, Rodney Bell.

All of Forward’s (NASDAQ: FWRD) board members are listed as defendants…

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