Shareholder Suit Over De Beers Settlement Tossed

Law360, New York (December 15, 2009, 12:49 PM EST) -- A federal judge has dismissed a pro se derivative shareholder suit that alleged officials at Anglo American PLC harmed the company with a $295 million deal that settled several antitrust class actions against diamond giant De Beers, an Anglo American subsidiary.

Judge Claudia Wilken of the U.S. District Court for the Northern District of California tossed the case on Friday, saying a plaintiff in a derivative shareholder action cannot be pro se and must have an attorney. But she granted Matthew D. Pinnavaia leave to refile...
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