Justices Scrap UBS Shareholder Suit Over Demand Futility
By Drew Singer ( August 27, 2013, 1:53 PM EDT) -- The U.S. Supreme Court on Monday dismissed UBS Financial Services Inc.'s appeal in a shareholder derivative suit accusing UBS of selling $757 million in bad bonds to Puerto Rico pension funds, a case that was set to clarify the standard of review for so-called demand futility arguments between shareholders and a board of directors....
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