51. The disclosure of the fund prompted shareholder suits against Incomnet and Schwartz, who was accused of using the account to manipulate the stock price. 52. The issue is of more than academic importance to companies faced with shareholder suits. 53. The internal chaos at Andersen means that the firm seems unable to settle shareholder suits because no one has a handle on how much money is available. 54. The number of shareholder suits will rise, and not just because Weiss says he has more claims left to file. 55. The settlement of the shareholder suit must be approved by the court. 56. The shareholder suits all allege that company executives conspired to profit by artificially inflating the stock price and giving misleading information about the company. 57. Thirteen separate shareholder suits were filed seeking to block the deal. 58. Though another bidder may emerge, and a shareholder suit was filed Tuesday seeking to block the deal, investors seem likely to go along. 59. Three shareholder derivative suits also were filed in Delaware, alleging that Sensormatic directors breached their fiduciary duties by failing to detect the accounting practices. |
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