A federal judge ruled that Gillette Co....

A federal judge ruled that Gillette Co. broke an SEC rule with a misleading newspaper ad that helped it win its close proxy battle with Coniston Partners this spring. However, the judge said further hearings would be necessary before he could rule on whether the proxy result should be voided or whether a second vote should be held. Coniston wanted to take control of Gillette and put it up for bid. But two days before the proxy vote, Gillette ran an ad indicating that the New York investment group is controlled by Swiss investor Tito Tettamanpi. Coniston has denied that the investor controls the partnership, although he is an investor in it.