01/18/2012 10:23:25 AM EST
Magistrate Judge: Investors Failed To Plead Demand Futility In Derivative Suit
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PORTLAND, Ore. - Dismissal of a shareholder derivative suit is proper because the shareholders have failed to properly plead demand futility, a federal magistrate judge in Oregon recommended in a Jan.11 report and recommendation (Plumbers Local No. 137 Pension Fund, et al. v. Raymond P. Davis, et al., No. 11-633, D. Ore.).
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