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Berkshire Aerospace Unit Denied Exit From Investor Suit

Law360, New York (January 25, 2018, 3:36 PM EST) -- An Oregon federal judge on Wednesday stood by a magistrate judge’s recommendation that an aerospace parts manufacturer now owned by Berkshire Hathaway Inc. not be allowed to shake an investor suit accusing it of issuing misleading proxy materials leading up to the acquisition, deeming the company’s objections unpersuasive.

Senior U.S. District Judge Anna J. Brown agreed that Precision Castparts Corp. and a number of its current and former officers and directors shouldn’t prevail on their bid to nix a securities suit claiming they issued a false...
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