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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.