AirTran Shareholder Challenges $1.4B Southwest Buy

Law360, New York (December 3, 2010, 6:21 PM EST) -- An AirTran Holdings Inc. shareholder has filed a proposed class action in an effort to block the $1.4 billion purchase of AirTran by Southwest Airlines Co., arguing that the planned merger of two of the country's largest discount airlines is fundamentally unfair.

Douglas Church filed the lawsuit Thursday in the U.S. District Court for the District of Nevada on behalf of all AirTran shareholders, naming AirTran, Southwest, Guadalupe Holdings Corp., AirTran Chairman and CEO Robert Fornaro, and the entire board of directors for AirTran as defendants....
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