Aerojet Chairman, CEO Clash Anew Over Company Control (1)

Aerojet Rocketdyne Inc.’s chairman is accusing the firm’s CEO in a new lawsuit of misleading investors in proxy statements about a control fight over the rocket-engine maker.

Veteran activist investor Warren Lichtenstein, Aerojet’s chairman, contends a proxy filing last week by Eileen Drake, the company’s chief executive officer, makes false claims about the fight over the defense contractor and is designed to unfairly help give her control of the board.

“Defendants fail to disclose Drake has sought to obtain de facto control over Aerojet by targeting Mr. Lichtenstein with bogus charges over alleged violations of corporate policy,” ...