Directors And Officers Ask Court Not To Dismiss Action Without Prejudice

HOUSTON - Arguing that a shareholder bringing a shareholder derivative lawsuit should not be allowed to voluntarily dismiss its suit without prejudice, directors and officers of a corporation urged a Texas federal court on March 29 to dismiss the suit with prejudice so the plaintiff could not move the case to a different forum (City of Sterling Heights Police & Fire Retirement System, Derivatively on behalf of Helix Energy Solutions Group, Inc. v. Owen Kratz, et al., No. 11-cv-02537, S.D. Texas).

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