On February 19th, the Second Circuit affirmed the entry of summary judgment against holders of convertible notes, who sued the issuer and its successor in interest for their refusal to convert the notes into cash and stock upon the issuer's acquisition by the successor. Under the indenture's terms, the note holders' conversion rights were not triggered because the issuer was acquired by a company that listed ADRs on the NYSE, not common stock as required by the indenture. Law Debenture Trust Co. of New York v. Maverick Tube Corp.