Alcon Shareholder Drops Bid To Block Novartis Deal

Law360, New York (March 19, 2010, 6:49 PM EDT) -- A New York foundation that holds stock in Alcon Inc. has agreed to voluntarily dismiss its putative class action accusing Swiss drugmaker Novartis AG and Nestle AG of violating federal securities law through the sale of Nestle's shares in Alcon.

Judge Frederic Block of the U.S. District Court for the Eastern District of New York entered an electronic order dismissing the case Friday, a day after the Joseph H. and Miriam F. Weiss Foundation Inc. lodged its notice of voluntary dismissal without prejudice.

The Weiss Foundation...
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