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12/07/2011 10:55:30 AM EST

Shareholders Failed To Properly Plead Demand Futility, Federal Judge Rules

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LexisNexis® Mealey's™ Emerging Securities Litigation Legal News

SAN FRANCISCO - Dismissal of a shareholder derivative amended complaint is proper because the shareholders have failed to properly plead demand futility, a federal judge in California ruled Nov. 9 (In re: Oracle Corp. Derivative Litigation, No. 10-3392, N.D. Calif.; See April 2011, Page 44). Full story on lexis.com