Bank Sues NetApp To Probe Gov't Contract Misconduct

Law360, Wilmington (August 10, 2011, 2:40 PM EDT) -- Amalgamated Bank filed suit Tuesday in Delaware state court seeking to force NetApp Inc. to open its books and shed light on potential board misconduct related to a government contract fraud investigation the company settled for $128 million in 2009.

The bank — which, as trustee of the Longview LargeCap 500 Index Fund and another associated fund, holds more than 86,000 shares of NetApp stock — said the data management company’s shareholders have grounds to believe the board breached its fiduciary duties in allowing NetApp to...
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