Claim Deficiencies Doom Shareholders Suit V. Ramp

Law360, New York (March 30, 2009, 12:00 AM EDT) -- Finding that shareholders of now-defunct medical software maker Ramp Corp. failed to show that their securities claims were not derivative in nature and that they did not cure multiple deficiencies in their petition, a Texas appeals court has affirmed the dismissal of the investors' complaint.

The Texas Court of Appeals for the Third Circuit handed down an opinion March 26 upholding the trial court’s decision, finding that the 14 shareholders who accused Ramp Corp.’s former officers and lawyers of negligence, fraud and conspiracy had ample opportunity...
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