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Bondholder Drops Cerberus From GMAC Action

By Christie Smythe (June 12, 2009, 12:00 AM EDT) -- A GMAC LLC bondholder alleging that the financing company unfairly swapped certain bonds for higher-priority notes, leaving the rest more likely to go unpaid in the event of bankruptcy, has dropped claims against major stakeholder Cerberus Capital Management LP in the putative class action....

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