Directors And Officers Ask California Federal Court To Dismiss Shareholder Suit

SANTA ANA, Calif. - Directors and officers of a corporation argued in a California federal court on March 30 that a shareholder derivative lawsuit should be dismissed because, among other reasons, the directors and officers are protected by the business judgment rule (In re Smith Micro Software, Inc. Shareholder Derivative Litigation, No. 11-cv-1394, C.D. Calif.).

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