• Derivative Plaintiffs Lose Standing After Merger
  • December 23, 2008 | Author: C. John Koch
  • Law Firm: Jenner & Block LLP - Chicago Office
  • 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.