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Minneapolis Firefighters' Relief Association V Medtronic, Inc 3488 Form

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[Music] case briefs and so much more LS status got what you're looking for in June 2014 Medtronic a Minnesota Corporation acquired covidian an Irish public company the transaction was structured as an inversion and Medtronic acquired covidian through a new holding company Medtronic pick Incorporated in Ireland Kenneth Steiner a shareholder filed a lawsuit against Medtronic and its board of directors claiming that they violated Minnesota laws when they reduced shareholder interest to secure tax benefits The District Court had to determine whether the claims were direct or derivative the court of appeals reversed most of the claims holding that they were Direct the Minnesota Supreme Court partially upheld and partially reversed the lower Court's decision they ruled that claims of harm from capital gains tax liability and shareholders interest dilution were direct while excise tax reimbursement claims involving medtronics officers and directors were derivative the case was

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