Titanium Metals Settles Investor Suit Over Insider Deals

Law360, Wilmington (October 11, 2012, 9:29 PM EDT) -- Titanium Metals Corp. has agreed to implement new oversight policies to resolve a shareholder derivative suit that accused its chairman and majority owner of harming the company through a history of self-dealing, according to court documents filed Wednesday.

In December, a pension fund shareholder sued the company’s board, including billionaire Chairman Harold Simmons, in Delaware Chancery Court, claiming Simmons repeatedly pushed TMC into costly transactions for the benefit of other companies he controls.

Plaintiff the Louisiana Municipal Police Retirement System agreed to stand down, however, in...
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