Nature of the Case
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Facts
Mendell (P) is a stockholder in Viacom International. He alleged approximately $11 million in profits made by D as a beneficial owner of greater than 10% of the outstanding stock. After the complaint was filed, International was acquired by Viacom, forming a new corporation, Viacom International. The Court of Appeals reversed the District Court in deciding P had continued standing to prosecute the case after the merger.
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