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Derivative Plaintiffs Lose Standing After Merger



by C. John Koch
Jenner & Block LLP - Chicago Office

December 23, 2008

Previously published on October 2008

In In re Countrywide Financial Corp. Derivative Litig., No. 07-372, 2008 WL 4488907 (D. Del. Oct. 7, 2008), the district court rejected the notion of "post-merger equitable standing" and held that derivative plaintiffs do not have standing to pursue derivative actions once the company merges with another.


 

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