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Ironing out a wrinkle in one of the biggest ongoing securities fraud cases, the Ninth Circuit U.S. Court of Appeals ruled Wednesday that McKesson Corp. cannot sue its own shareholders over a 1999 merger gone bad. A unanimous three-judge panel turned aside McKesson's attempt to sue the very investors who had sued the company after the alleged fraud caused McKesson's market value to drop $9 billion in a single day.
August 14, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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