Shareholder Suit Over $2.2B Novell Sale Gets Pared

Law360, New York (January 4, 2013, 6:32 PM EST) -- A Delaware state court judge on Thursday partly denied a bid to toss a proposed shareholder class action over the $2.2 billion sale of information technology services company Novell Inc. to software company Attachmate in 2011.

Delaware Chancery Court Vice Chancellor John W. Noble denied the Novell board members' bid to dismiss claims over their allegedly partial treatment of Attachmate over other bidders. But his ruling also said that the plaintiffs had not sufficiently alleged how Attachmate had enabled Novell board members in their alleged breach...
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