Shareholder Suit Over Dow, Rohm & Haas Deal Tossed

Law360, New York (January 12, 2010, 7:59 PM EST) -- A Delaware judge has dismissed a shareholder lawsuit that claimed Dow Chemical Co. principals breached their fiduciary duty when they entered into an $18 billion merger agreement to buy Rohm and Haas Co. in 2008.

Judge William B. Chandler III's 40-page opinion, issued Monday in the Court of Chancery for the State of Delaware, said the suit amounted to "substantive second-guessing of the merits of a business decision" and was therefore improperly pled.

Chandler granted Dow's motion to dismiss, filed in April.

Dow agreed to buy...
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