United Rentals Shareholder Suit Tossed

Law360, New York (August 26, 2009, 6:47 PM EDT) -- A federal judge has dismissed a suit filed by shareholders of United Rentals Inc. accusing the company of withholding information regarding a proposed acquisition by Cerberus Capital.

Judge Janet Hall of the U.S. District Court for the District of Connecticut on Monday dismissed the shareholders' amended complaint alleging the company had misrepresented the risks of the Cerberus deal not closing by saying it was only subject to customary closing conditions.

Negotiations over the termination fee and availability of specific performance improperly were omitted from proxy statements,...
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