ACS Shareholders' Suit Tossed Over Demand Futility

By Melissa Lipman

Law360, New York (February 09, 2009, 12:00 AM ET) -- A Delaware state court has dismissed a derivative suit over a failed bid by Cerberus Capital Management LP and Affiliated Computer Services Inc. to take the company private after finding that the majority of the company's board remained independent despite internal strife and so had not breached its fiduciary duty to shareholders.

Vice Chancellor Stephen Lamb of the Court of Chancery of the State of Delaware ruled Friday that the second amended complaint would be dismissed if the plaintiffs could not prove that the first amended...
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