Law360, New York (June 22, 2011, 7:32 PM ET) -- An Ohio federal judge on Wednesday dismissed a suit alleging Amtrak broke its duty to shareholders by failing to redeem $52 million in stock at fair market value, ruling that the plaintiff wasn't entitled to bring the claims.
U.S. District Judge Arthur Spiegel said the plaintiff did not meet its burden of showing that Amtrak failed to fulfill any promise to offer shareholders a profit in buying back its shares under a 1997 law, part of a battle over the railway's mission at large.
Cincinnati-based American...
Amtrak Dodges Claims It Cheated Shareholders
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