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CITY OF HARPER WOODS EMPLOYEES' RET. v. OLVER

No. 08-7101.

589 F.3d 1292 (2009)

CITY OF HARPER WOODS EMPLOYEES' RETIREMENT SYSTEM, Derivatively on Behalf of BAE Systems Plc., Appellant v. Richard (Dick) L. OLVER, et al., Appellees.

United States Court of Appeals, District of Columbia Circuit.

Decided December 29, 2009.

Attorney(s) appearing for the Case

Eric Alan Isaacson argued the cause for appellant. With him on the briefs were Patrick J. Coughlin, Mark Solomon, and Roger M. Adelman. Jonathan W. Cuneo entered an appearance.

Lawrence Byrne argued the cause for appellees BAE Systems, PLC and the Individual BAE Systems PLC appellees. With him on the brief were Mary K. Warren and Sterling P.A. Darling, Jr.

Christopher T. Lutz, Eric M. Roth, Adir G. Waldman, and Richard L. Brusca were on the brief for appellees the PNC Financial Services Group, Inc. and the Allbrittons.

Opinion for the Court filed by Senior Circuit Judge EDWARDS.

EDWARDS, Senior Circuit Judge:

City of Harper Woods Employees' Retirement System ("Harper Woods"), a pension fund, brought a shareholder derivative suit on behalf of BAE Systems PLC ("BAE") alleging intentional, reckless, and negligent breaches of fiduciary duties and waste of corporate assets by current and former directors and executives of BAE. Harper Woods also sued PNC Financial Services Group, the legal successor to Riggs Bank, as well as Joseph, Barbara, and...

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