Strine Tosses Derivative Suit Over UTC's China Exports

Law360, Wilmington (June 19, 2013, 10:19 PM EDT) -- A Delaware Chancery judge on Tuesday threw out a derivative lawsuit filed on behalf of defense contractor United Technologies Corp. that accused its board of directors of allowing then concealing the export of military technology to China, leading to a $55 million civil penalty against the company.

Chancellor Leo E. Strine Jr. ruled that the complaint from UTC investor Harold Grill 2 IRA doesn't make a sufficient case against the board members, and hardly pleads any facts they knew about supposed false statements over the alleged...
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