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U.S. judge gives narrow reading of Lyondell shareholder protections
Tuesday January 14th 2014, 4:49 pm Filed under Shareholder lawsuit

A U.S. bankruptcy judge on Tuesday partly upheld efforts by creditors of the former Lyondell Chemical Co to reclaim money from its shareholders, in a ruling that could help resolve the murky issue of how far shareholder protections extend when companies go bankrupt. U.S. Bankruptcy Judge Robert Gerber in New York dismissed one fraud claim against shareholders in the $6.3 billion lawsuit, but ... [News Source]