Court Sides With Fund Partners In Shareholder Suit

Law360, New York (June 20, 2008, 12:00 AM EDT) -- Two partners at a private equity fund have persuaded a judge to toss claims from a lawsuit alleging that they breached their fiduciary duties and engineered a hasty acquisition of biopharmaceuticals maker Transkaryotic Therapies Inc. that significantly undervalued the company.

Warburg Pincus LLC partners Rodman Moorhead and Jonathan Leff won their motions for summary judgment on Thursday, with Delaware Chancery Court Chancellor William Chandler III finding no evidence to support the claim that they acted disloyally to TKT shareholders when they negotiated a merger with Shire...
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