Amtrak Cheated Public Shareholders: Suit

Law360, New York (May 27, 2008, 12:00 AM EDT) -- Amtrak's largest public shareholder has accused the national train carrier of violating its statutory obligations by failing to redeem its stock at fair market value after nixing a buyback deal that would have included real estate.

A unit of Cincinnati-based American Financial Group Inc. filed a complaint May 19 in the U.S. District Court for the Southern District of Ohio against Amtrak, formally known as the National Railroad Passenger Corp.

An Amtrak spokesperson had no comment Tuesday.

The suit alleges deprivation of due process under the...
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