Judge Won't Expedite Suit Over 3M-Cogent Deal

Law360, New York (October 8, 2010, 4:50 PM EDT) -- On the heels of a Delaware state court decision denying a bid by Cogent Systems Inc. shareholders to halt 3M Co.'s proposed $943 million acquisition of the company, a federal judge in California has refused to expedite proceedings in a similar class action that sought to block the deal.

Judge R. Gary Klausner of the U.S. District Court for the Central District of California issued the ruling Thursday. Cogent shareholders were required to tender their stock to 3M by midnight Thursday, but shareholder Mary Shanahan sought...
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