Appeal Nixed In American Tower Derivative Suit

Law360, New York (April 14, 2009, 12:00 AM EDT) -- An American Tower Corp. shareholder who filed a derivative suit against several current and former ATC directors or officers failed to set forth facts that created reasonable doubt that the company's board could exercise independent judgment in responding to the stock option backdating claims, the Massachusetts Supreme Court has held.

The Supreme Judicial Court of Massachusetts issued an opinion on Monday, affirming a lower court's decision to dismiss the case with prejudice.

The suit was filed against 16 individuals (and ATC, as a nominal defendant) by...
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