Shareholder Derivative Action Against Novartis Dismissed
September 03, 2009
On September 2, 2009, a District Court in California dismissed in its entirety a shareholder derivative action against Novartis AG and its current and former officers and directors. In dismissing the case, the Court agreed with the defendants that Swiss law governed plaintiff’s claims and that plaintiff, a holder of Novartis AG American Depository Shares, lacked standing under Swiss law to bring a derivative suit on behalf of Novartis AG. The Court further agreed that even if the plaintiff did have standing to bring suit, the action would be subject to dismissal pursuant to the doctrine of forum non conveniens.
The Cravath lawyers involved in the matter include associates Timothy Van Voris, Maura Caffrey Smith, Sam Lowery and Margaret Segall.
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J.D., 2008, Harvard Law Schoolcum laude
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A.B., 2003, Harvard Collegemagna cum laude
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