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The U.S. Court of Appeals for the Second Circuit upheld a district court’s dismissal of a civil securities lawsuit, rejecting plaintiff’s claims that the corporate defendant violated Sections 10(b) and 20(a) of the securities laws by failing to disclose that it was engaged in merger negotiations in a series of public statements
The Third Circuit affirmed the lower court’s rejection of arguments by an aggrieved minority shareholder objecting to a short-form merger that resulted in an allegedly diminished share price
