Shareholder Suit Against Stolt-Nielsen Will Proceed

Law360 (June 20, 2006, 12:00 AM EDT) -- Beleaguered transportation and storage company Stolt-Nielsen SA will not be able to cross a shareholder lawsuit off its list of legal worries, after a judge denied the company’s motion to dismiss the class action.

A judge in the U.S. District Court for the District of Connecticut ruled that the shareholder suit against Stolt-Nielsen may proceed, despite having initially dismissed the case in November 2005.

Although the court tossed the original complaint, plaintiffs filed the recently upheld amended complaint in March.

Plaintiffs allege that between 2000 and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.