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Finding investors in CDNow Inc. had no right to know in advance that the company's proposed merger with Columbia House wasn't likely to go through because that fact wasn't certain until the "drop dead" date, a federal judge dismissed a class action securities fraud suit. The judge said the corporation had no duty to disclose the fact "merely because a reasonable investor would like to know."
April 12, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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