6th Circ. Revives Abercrombie Derivative Suit

Law360, New York (April 5, 2011, 3:54 PM EDT) -- The Sixth Circuit on Tuesday revived a derivative suit lodged against directors of Abercrombie & Fitch Co., finding a special litigation committee charged with investigating shareholders' claims was not independent.

In a 2-1 decision, a three-judge panel for the U.S. Court of Appeals for the Sixth Circuit said a lower court should not have followed the committee's recommendation to dismiss the case because one of its two members revealed a bias when he recused himself from considering allegations against one of the defendants, Abercrombie Chief Operating...
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