Md. Judge Tosses Suit Over $720M Annaly-CreXus Deal

Law360, New York (August 15, 2013, 7:22 PM EDT) -- A Maryland state judge on Wednesday dismissed a putative shareholder class action challenging Annaly Capital Management's $720.8 million takeover of CreXus Investment Corp. in a ruling that could shape investor challenges of real estate investment trust mergers.

Judge Ronald B. Rubin of the Circuit Court for Montgomery County, Md., ruled that the investors had failed to provide any evidence that the investors failed to make any substantive allegations that CreXus's board and a special committee it appointed to investigate a potential sale to Annaly, did not...
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