Inland American Directors Achieve Dismissal of Shareholder Stock Inflation Lawsuit

Skadden successfully represented the independent directors of Inland American Real Estate Investment Trust in a class action that challenged the value of shares sold to investors through a distribution reinvestment plan. On November 18, the U.S. District Court for the Northern District of Illinois dismissed the action with prejudice, finding that the plaintiffs had not alleged the directors breached their fiduciary duties to investors.