Trados Directors Can't Escape Shareholder Class Action

Law360, Wilmington (August 22, 2012, 10:48 PM EDT) -- A Delaware judge ruled Wednesday that a shareholder class action could proceed against the directors of Trados Inc., a translation-software company that the plaintiffs claim was sold unnecessarily in 2005 for the benefit of the venture capital firms that held its preferred stock.

The seven Trados directors had filed a motion for summary judgment in Delaware Chancery Court, arguing that even after five years of discovery nothing in the record showed the venture capital firms ordered the directors to sell.

Vice Chancellor J. Travis Laster denied...
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