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Judge Refuses To Block Raytheon-Applied Merger

Law360 (January 21, 2011, 7:31 PM EST) -- The judge overseeing a putative class action over defense contractor Raytheon Co.'s acquisition of electronic intelligence technology company Applied Signal Technology Inc. has refused to grant a temporary restraining order blocking the transaction.

In a two-page ruling issued Thursday, Judge James P. Kleinberg of the Superior Court of California, County of Santa Clara, denied the TRO bid of named plaintiff Joseph Jarackas, who argued that a so-called top-up option that could be used in the deal violated California corporate law.

Applied Signal and members of its...
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