Judge Keeps Norfolk Southern Derivative Suit Alive

Law360, New York (June 28, 2011, 2:53 PM EDT) -- A federal judge in Washington on Monday declined to derail an investor's claims of waste and breach of fiduciary duty against the board of Norfolk Southern Corp., but ordered the derivative suit over an alleged price-fixing scheme moved to Virginia.

Plaintiff Lawrence Treppel sued Norfolk Southern's directors and audit committee in September claiming the rail giant, which controls some 90 percent of all U.S. rail tracks, conspired over a period of years to raise fuel surcharges during a series of meetings of the Association of American...
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