Double Derivative Claims Fall Flat Post-Merger

Law360 (April 13, 2010, 1:22 PM EDT) -- Experienced corporate governance litigators have long known that if a Delaware corporation merges during the pendency of a derivative suit, the merger leads to a dismissal of that derivative suit. The reason is simple — standing to bring any derivative suit requires the named shareholder to possess and maintain "continuous ownership" of stock in the corporation on whose behalf he is suing....

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