Ladish Investor Slams Wis. Rule Defense In 7th Circ.

Law360, Chicago (December 1, 2011, 4:09 PM EST) -- Wisconsin's business judgment rule does not protect Ladish Co. Inc.'s directors from shareholder class claims that they failed to disclose certain information regarding the company's $778 million sale to Allegheny Technologies Inc., a plaintiff's attorney told the Seventh Circuit on Thursday.

Juan Monteverde of Faruqi & Faruqi LLP asked a three-judge panel to revive Ladish shareholder Irene Dixon's putative class action against the metal components maker and its board of directors, arguing that the Wisconsin rule is designed to prevent interference in a business' day-to-day operations...
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