Judge Axes Shareholder Action Over $5B DRS Merger

By Hilary Russ

Law360, New York (January 13, 2010, 6:34 PM ET) -- Shareholders have lost a legal challenge to defense supplier DRS Technologies Inc., its CEO and other directors over the company's $5.2 billion merger with an Italian outfit that builds aircraft, satellites and missile systems.

Judge Deanne M. Wilson on Tuesday granted a motion by DRS to dismiss the shareholders' amended complaint with prejudice in the Superior Court of New Jersey Chancery Division in Morris County.

Judge Wilson ruled after considering briefs and arguments from both sides, but did not lay out any reasons behind her decision...
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