Focus (Forum & Focus)
Feb. 23, 2008
When Standing Falls
Focus Column - A recent state Supreme Court ruling determines whether shareholders can continue in a class action when a merger occurs.
By Eric S. Waxman, Peter B. Morrison and Virginia F. Milstead
This article appears on Page 5.
In a long-awaited decision, the California Supreme Court has answered definitively the question of whether a merger during the pendency of a derivative action eliminates the standing of a shareholder to continue the action. In Grosset v. Wenaas, 2008 DJDAR 2311 (Cal. Feb. 14, 2008), the court unanimously upheld ...
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