Steel Partners asked the Tokyo District Court on Wednesday to prevent Bull-Dog Sauce Co. from implementing antitakeover measures aimed at diluting the U.S. fund's shareholdings.
Steel Partners Japan Strategic Fund asked the court for a provisional injunction to block the measures.
"Such a scheme, if allowed to be carried out, would be detrimental to the legal framework of corporate Japan, would weaken international faith in the integrity of the Japanese capital markets and could deter investments in Japanese companies and Japan's national economy as a whole," Steel Partners said.