A Manhattan judge dismissed a shareholder derivative suit that claimed self dealing by a multi-billion-dollar real estate investment trust, holding that the defendants had "adequately disclosed to shareholders, prior to their approval" a plan to "externalize" the company's management.
June 08, 2015 at 05:00 AM
1 minute read
A Manhattan judge dismissed a shareholder derivative suit that claimed self dealing by a multi-billion-dollar real estate investment trust.
Ruling in Doppelt v. Denahan, 652447/13, Supreme Court Justice Saliann Scarpulla said the defendants, founders and senior officers of Annaly Capital Management had “adequately disclosed to shareholders, prior to their approval” a plan to “externalize” the company’s management.
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