Shareholder Suit Over Ladish's $778M Sale Tossed

Law360, New York (March 30, 2011, 5:54 PM EDT) -- A Wisconsin federal judge on Wednesday threw out a putative class action accusing the board of metal components maker Ladish Co. Inc. of selling out shareholders by accepting a $778 million purchase offer from Allegheny Technologies Inc.

Plaintiff Irene Dixon's claims of breach of fiduciary duty and violation of securities disclosure laws did not have enough specific allegations to pass muster, Judge J.P. Stadtmueller of the U.S. District Court for Eastern District of Wisconsin said.

“It is clear the allegations are insufficient,” Judge Stadtmueller said....
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