7th Circuit Affirms Dismissal, Says Shareholders Not Entitled To Tax-Free Deal

(November 9, 2023, 2:14 PM EST) -- CHICAGO — A Seventh Circuit U.S. Court of Appeals panel affirmed a Wisconsin federal court’s dismissal of a class complaint filed by shareholders of a Wisconsin company after its merger incurred capital gains taxes for the shareholders, finding that the investors’ arguments “boil down to a demand for a better deal than the one they received” but failed to show that the company made misleading statements in a proxy statement with details about the merger....