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Shareholder challenge over EMC sale blocked

Fiduciary claim vs. co. directors must be brought derivatively

Shareholders of EMC Corp. could not bring a direct class action accusing company directors of breaching a fiduciary duty by recommending EMC’s sale for an allegedly inadequate price, a Superior Court judge in Massachusetts has ruled in a case of first impression. The defendant directors had recommended the sale of the Hopkinton-based data storage and services ...

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