2nd Circ. Nixes Bids To Pursue CA Derivative Claims

Law360, New York (July 27, 2009, 3:34 PM EDT) -- A federal appeals court has rejected a slew of motions seeking relief from the 2003 global settlement involving Computer Associates Inc., thwarting shareholders’ bids to pursue derivative claims against former company executives allegedly involved in a $2.2 billion accounting fraud scheme.

The U.S. Court of Appeals for the Second Circuit on Thursday upheld an earlier decision by the U.S. District Court for the Eastern District of New York denying various CA shareholders’ motions for relief from the massive settlement.

The current dispute involves three appeals for...
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