FLIR’s $8 Billion Sale to Teledyne Ends Suit Over Iran Sanctions

A FLIR Systems Inc. investor dropped a lawsuit blaming its board for violations of U.S. sanctions on Iran and Cuba, a week after the closing of the company’s $8.2 billion sale to Teledyne Technologies Inc., according to a Friday Delaware Chancery Court filing.

The joint stipulation doesn’t state whether the derivative case settled, and attorneys for both sides didn’t immediately respond to requests for more information. But a deal appears unlikely, given that the dismissal was without prejudice, meaning the suit can be refiled.

The advanced imaging company’s acquisition by Teledyne closed May 14. Under those circumstances, the development ...