Holstein v. UAL Corp.

MEMORANDUM AND ORDER

MORAN, District Judge.

Plaintiff Peter Holstein filed this action against UAL Corporation (“UAL”) and the individual members of UAL’s board of directors after UAL adopted a Preferred Share Purchase Rights Plan (the “Rights Plan”). The complaint consists of four counts. In count I Holstein alleges that UAL’s adoption of the Rights Plan violated federal securities laws relating to tender offers. Counts II, III and IV are pendent state claims in which Holstein alleges that UAL’s directors breached their fiduciary duties by adopting the Rights Plan and by engaging in other…