California Federal Judge: Shareholder Failed To Prove Presuit Demand Futility

SANTA ANA, Calif. - Finding that a shareholder did not allege sufficient particularized facts to show that it would have been futile to make a presuit demand on a company's board of directors, a federal judge in California on Jan. 30 granted the company's motion to dismiss (In Re: Corinthian Colleges, Inc. Shareholder Derivative Litigation, No. 10-cv-01597, C.D. Calif.). Full story on lexis.com