Overview
Minnesota Supreme Court Permits Medtronic Shareholders to Proceed With Claims Related to Inversion: Yesterday, the Minnesota Supreme Court determined that the district court erred in dismissing, as derivative, claims alleging injuries to shareholders of Medtronic Inc. due to a capital-gains tax liability and diluted shareholder interests. However, the justices affirmed the lower court’s dismissal of claims that asserted an injury due to an excise-tax reimbursement made to corporate officers and directors. The shareholder claims relate to Medtronic’s tax inversion with Covidien, an Irish company.