Plaintiffs Fail To Prove Standing In Asyst Stock Suit

Law360, New York (November 14, 2008, 12:00 AM EST) -- Asyst Technologies Inc. investors have failed to prove their standing to a federal judge for a second time in a shareholder derivative suit brought against the company’s executives for allegedly backdating stock options.

In a decision Wednesday, Judge Elizabeth D. Laporte granted a motion to dismiss the claims brought by shareholders in the U.S. District Court for the Northern District of California, giving the plaintiffs’ attorneys permission to file an amended complaint if they left out two of the three plaintiffs.

In the shareholder derivative suit,...
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