9th Circuit Panel Says Shareholder Failed To Prove Presuit Demand Futility

SAN FRANCISCO - Affirming a lower court's dismissal of a shareholder derivative lawsuit, a Ninth Circuit U.S. Court of Appeals panel on April 2 said in an unpublished opinion that the shareholder did not show that presuit demand on a company's board of directors would have been futile (In re: International Game Technology Derivative Litigation, No. 10-16726, 9th Cir.; 2012 U.S. App. LEXIS 6582). Full story on lexis.com