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Old 07-24-2008 | 03:51 PM
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Carl Spackler's Avatar
Carl Spackler
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Originally Posted by ERJ135
This officially tanked the stock today. I was hopping for 9.50 a share so I could sell off half my shares to split into different companies. Hope this doesn't put a hamper on the merger too. arghhhh


Trial set in suit to block Delta-Northwest deal: Financial News - Yahoo! Finance
This has come up before, but it's worth repeating.

1. The court has no standing, thus the judge will almost assuredly have to dismiss it on summary judgement - probably before the trial starts.

2. The pax can show no damages. You cannot win a suit against some entity with a claim of what might happen in the future. They're claiming damages for the after-effects of a merger that they're suing to prevent.

3. Dept of Justice has sole authority in airline mergers. A court ruling claiming to hold an order over DOJ would be appealed by DOJ as a violation of law - and they would be right.

Just another example of being able to sue anyone for anything...but you can't win this one.

Carl
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