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Forum Selection Demand Futility

Proskauer - Corporate Defense and Disputes

Tractor Supply Gets Lift from Court with Diversity Suit Dismissal

Earlier this spring, yet another lawsuit alleging a company failed to adequately promote diversity was dismissed for a failure to properly allege demand futility. In City of Pontiac Police & Fire Ret. Sys. v. Jamison, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

California District Court Dismisses Derivative Suit Against Facebook Board Members and Executives Challenging Alleged Lack of...

On March 19, 2021, the United States District Court for the Northern District of California ordered the dismissal of Natalie Ocegueda v. Zuckerberg, Case No. 20-cv-04444-LB, a shareholder derivative suit purportedly on behalf...more

Troutman Pepper

First Diversity-Driven Derivative Suit in Facebook Case Tossed by Northern District of California

Troutman Pepper on

As Troutman Pepper recently reported, the second half of 2020 brought a new wave of board diversity derivative litigation. These shareholder suits claimed boards of directors of public companies allegedly breached their...more

Proskauer - Corporate Defense and Disputes

Diversity Derivative Suit Dismissed

A shareholder derivative action which had alleged that Facebook’s lack of diversity caused a negative effect on its stock price was rejected by a California federal magistrate judge last week. The court held that the...more

Proskauer Rose LLP

Delaware Supreme Court Confirms Preclusive Effect of Dismissal of Derivative Actions Based on Lack of Demand Futility

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The Delaware Supreme Court held yesterday that the dismissal of a shareholder derivative action for lack of demand futility can preclude other derivative actions as long as the plaintiff in the dismissed case adequately...more

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