Western District Council of Lumber Production and Industrial Workers v. Louisiana Pacific Corporation, a Delaware Corporation

BOOCHEVER, Circuit Judge:

OVERVIEW

Western District Council of Lumber Production and Industrial Workers (Western) appeals from the magistrate’s dismissal of Western’s action for injunctive relief. Western sought to bar Louisiana Pacific (L-P) from voting proxies in the election of directors at its annual meeting. Western alleges that L-P’s acquisition of Rounds & Porter Lumber Company (Rounds & Porter) was a “related party transaction,” and L-P’s failure to disclose it rendered the proxy solicitation materially misleading in violation of Section 14(a) of the Securities Exchange Act, 15 U.S.C. §…