Business Judgment Rule Will Help ARS Defendants

Law360, New York (November 11, 2010, 3:21 PM EST) -- In the past few months, several derivative suits against mutual fund issuers of auction rate securities (ARS) have hit the courts. These include lawsuits filed in Illinois (Safier et al. v. Nuveen Asset Management et al., No. 10CH32166 (Cook County Cir. Ct.)); and New York (Curbow et al. v. Blackrock Advisors LLC et al., No. 651104/2010 (N.Y. Sup. Ct.); Curbow Family LLC et al. v. Morgan Stanley Investment Advisors Inc. et al., No. 651059/2010 (N.Y. Sup. Ct.); Gammon et al. v. Cohen & Steers Capital Management...
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